IMF & World bank

Question 1

What is the IMF?

Answer 1

International organisation which:

Encourages global monetary cooperation

Secure financial stability

Facilitate international trade

Promote high employment and sustainable economic growth

Question 2

What is the World Bank

Answer 2

The World Bank is made up of five international organizations

Provide loans to developing countries.

It is the biggest and most recognized development bank in the world

Question 3

What is the role of the IMF?

Answer 3

Helps countries manage financial crises and balance payment issues

Nations contribute money to a shared fund through a quota system

in 2016, the fund had around $667 billion

Question 4

What is the role of the World Bank

Answer 4

Aims to end extreme poverty

Promotes shared prosperity

Supports education, health, agriculture, environmental protection, infrastructure and efforts to reduce poverty

in 2014 it provided $61 billion in loans and grants

Question 5

What are the issues with the IMF and World Bank?

Answer 5

Public trust has been reduced due to corruption scandals and issue with human rights

Some want them reformed or dismantled

China created alternatives: Asian Infrastructure Bank (AIIB)