Question

What are the main similarities and differences between the IMF and the World Bank?

Answer 1

Answer- similarities between the IMF and the world Bank:

-Both the institutions are in A sense owned and directed by the government of member nations

-both concern themselves with economic issues and concentrate their efforts on broadening and strengthening the economies of member nations

-both institutions are situated in Washington, D. C.

-the management structure of both the institutions are same.

-voting right in these institutions depends on capital contribution of the member countries.

Difference between the World bank and IMF:

-IMF is A monetary institutions while the bank is A developmental institution.

-IMF grants credit to member countries to correct temporary bop deficit while World Bank was set up for financing war damaged economies of Europe.

-IMF's main concern is macro element while world Bank focuses on micro element of development.

-IMF is small or has no subsidiaries while world Bank is larger than IMF and it's structure is more Complex.

- IMF has 182 members throughout the world while world Bank has 187 members