Question

What are the Goals of the World Bank and the IMF? Why are some people upset and protesting about the World Bank and IMF? (15 points)

Answer 1

Goals of International monetary Fund and World Bank are different in nature and they have been specified below.

Goals of International monetary Fund are as follows-

A. The goal of IMF is to promote International monetary cooperation through permanent institution.

B. It also helps in facilitating the expansion and balanced growth of international trade.

C. it will also assisting the establishment of multilateral system of payment.

Goals of World Bank are as follows-

A.it will be overcoming poverty and help inspiring growth in many underdeveloped countries.

B.it will be helping the government in preventing the climate change and also customising solution to help the middle income countries to remain out of the poverty.

C.the goal of the World bank is also to work with partners in order to manage International Financial crisis and promote open trade.

Some people are upset and protesting about World Bank and IMF because they are accusing the World Bank that World Bank lending has become controversial and many countries are using the loans of World Bank to prevent sovereign debt default and their debt was often a result of overspending and excessive spending so they are devaluing gthe currencies and that has caused hyper inflation.

one another criticism regarding World bank is that they are only offering loans to those countries who have better human right protection histories so the basis of loan is protection of human rights