Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
World Bank - IMF
The World Bank is an institution created in 1944 with the goal of providing both financial and technical assistance to undeveloped countries for the purpose of helping in developing programs. One of its first loans had been granted to France in order for the country to repair its damages after WWII. The International Monetary Fund (IMF) has been established in 1945 by several nations with the purpose of preventing a state of depression like that the U.S. went through in 1930 from happening. Next to that, the IMF is also meant to provide financial aid by lending money to countries in need of assistance.
Both the World Bank and the IMF had been founded in Bretton, New Hampshire, USA to support the world's economy. Most people regard the IMF and the World Bank as being practically the same thing, as they cannot differentiate one from the other. The fact that there are a lot of similarities between the two institutions brings further dilemma when attempting to make distinctions between the two.
If truth be told, the two organizations are very dissimilar primarily because of each has a specific key purpose. While the World Bank is intended to assist in the development of the world's countries, the IMF's purpose is to keep a balance in the world's economy concerning financial operations between countries.
The effectiveness of the two has often been doubted with several other institutions from countries receiving assistance being able to take advantage of the funds provided by either the World Bank or the IMF. Another reason for why some condemn the two institutions is the belief that the U.S. had actually created the World Bank and the IMF in order to gain benefits from the deal.
Both the World Bank and the IMF would certainly be more effective if their leaders would not give conditioned help and would see that all the people in the world would benefit the systems equally.
Works Cited
Driscoll, David. The IMF and the World Bank: How Do They Differ?. International Monetary Fund. http://www.imf.org/external/index.htm (accesed 9 December 2008)
As they are interested in increasing economic growth at all costs, while ignoring the short- and long-term impacts that their actions could have on the population. This is evidence, of the validity of the criticisms leveled against: the World Bank, it policies and its role. Where, they would play a part in helping to support, various activities that are contradictory to their intended purpose. In this aspect the various
World Bank was established in 1944 with its headquarters at Washington, DC. It was formed as a single organization that later expanded to a group of five strongly connected development institutions. The five members of the World Bank Group include the International Bank for Reconstruction and Development (IBRD), the International Development Association, the International Finance Corporation (IFC), the Multilateral Guarantee Agency (MIGA), and the International Centre for the Settlement of
World Bank Over the last several years, the World Bank has played an important part in helping to ensure continuous economic growth throughout East Asia. As, the have worked with a number of different countries to improve their standards of living and in addressing a variety of lingering issues that have been impacting these areas. In the case of Hong Kong and Singapore, they have begun to experience above average growth
One way to reform the Bank would be to make it more accountable to an outside body of independent examiners, so that information it generates is not so self-serving and internally generated. In addition, since there have been so many charges of corruption and mismanagement, it is clear divisions such as the "anti-corruption" division are not working, and these areas need to undergo major reform. Perhaps a total reorganization
22 (United States Census Bureau). Finally, Best Market Research surveyed a disproportionate amount of those with incomes under $20,000 per year (United States Census Bureau), sample issues that most likely arose from the media of the survey, a survey. In addition to these severe sample discrepancies, the fact that the data was collected significantly earlier than the implementation date of the project is a serious time fallacy. Additionally, the statistical
The growing need for interdisciplinary education in the sciences has been recognized, as well, since students have often limited themselves to a specialized field without gaining the required skill sets to undertake broader issues. As the world becomes more complex, technology faster and business increasingly competitive, organizations are going to need "Renaissance people" who have a broad background in different areas, so they can clearly see the gestalt of a