THE IMF AND THE WORLD BANK In addition to the IMF, the Bretton Woods Agreement resulted in the formation of the World Bank. Formally known as the International Bank for Reconstruction and Development, the World Banks primary goal is to promote economic growth among the worlds developing nations. It does so by effectively serving an investment-banking role, issuing bonds and notes to raise new investment capital, which it in turn lends to poor nations to finance specific projects. Typical projects include those associated with enhanced transportation routes, electric power development, and increased agricultural production. As they share the ancestry of the Bretton Woods conference plus related economic roles, confusion between the IMF and the World Bank is common among the general public. They remain, however, two distinct organizations with their own individual goals and agendas aimed at promoting economic health and development among the worlds nations.
Posted on: Tue, 19 Aug 2014 00:21:35 +0000
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