Question

6. Compare and contrast the IMF and the World Bank group in raising money for themselves.

Answer 1

The main difference between the International Monetary Fund (IMF) and the World Bank lies in their respective purposes and functions. The IMF oversees the world's monetary system's stability, while the World Bank’s goal is to reduce poverty by offering assistance to middle-income and low-income countries.

• The IMF oversees the world's monetary system's stability, while the World Bank aims to reduce poverty by offering assistance to middle-income and low-income countries.
• To maintain its mission, the IMF monitors economic activity, offers members policymaking tools and analysis, and also provides loans to member countries.
• The World Bank accomplishes its goals through technical and financial support available to countries