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- International Monetary Fund (IMF) vs. the World Bank: What's the Difference?
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- Developing country
International Monetary Fund (IMF) vs. the World Bank: What's the Difference?
Their mandates, focus and programmes have evolved greatly over time, as seen, for example, by the shift of their pivotal role as designers of the fixed exchange rate regime created by the Bretton Woods System, to their active promotion of a fluctuating exchange rate system after its collapse in While the establishment of the Bank and Fund was presented as an apolitical effort to rebuild the world economy in the aftermath of WWII, some interpretations also view them as an effort to defend or expand the reach of western capitalism in the face of a potential challenge from the Soviet Union, and to promote US interests in particular. As many authors have argued — including, for example, by demonstrating the links between the decimation of African health systems by SAPS and the response to the Ebola crisis see Observer Winter — the devastating impacts of SAPs have been enduring and persist to this day. This debate has regained momentum in the decade since the global financial crisis, where the rise of China, often presented as the coming of a more multipolar world, is seen by some as a challenge to the perceived hegemony of the BWIs. However, others have noted that this analytical framework is flawed , as the private interests promoted by the Bank and Fund cannot always be understood in this light and there is a high degree of cooperation between the Bank and Fund and other multilateral institutions, including those established by China and other developing countries. The more frequent financial crises since the s — and the crisis in particular — have had an impact on the work of the Fund, which has been forced to move beyond essentially national interventions to a greater focus on the global economy, and from scanning the horizon for potential crises to dealing with them in order to avoid regional or global contagion.
World Bank , in full World Bank Group , international organization affiliated with the United Nations UN and designed to finance projects that enhance the economic development of member states. Headquartered in Washington, D. It also provides technical assistance and policy advice and supervises—on behalf of international creditors—the implementation of free-market reforms. Together with the International Monetary Fund IMF and the World Trade Organization , it plays a central role in overseeing economic policy and reforming public institutions in developing countries and defining the global macroeconomic agenda. Its first loans were geared toward the postwar reconstruction of western Europe. Beginning in the mids, it played a major role in financing investments in infrastructural projects in developing countries, including roads , hydroelectric dams , water and sewage facilities, maritime ports, and airports.
Its first goal is to end extreme poverty. Its second goal is to promote shared prosperity. The World Bank is not a bank in the conventional sense of the word. Instead, it consists of two organizations. One is the International Bank for Reconstruction and Development, which provides loans, credit, and grants. The Bank works closely with three other organizations in the World Bank Group:. The Bank's stated purpose is to "bridge the economic divide between poor and rich countries.
A developing country is a country with a less developed industrial base and a low Human Development Index HDI relative to other countries. There is also no clear agreement on which countries fit this category. The World Bank classifies the world's economies into four groups, based on Gross National Income per capita: high, upper-middle, lower-middle, and low income countries. Least developed countries , landlocked developing countries and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries. There are controversies over this term's use, which some feel perpetuates an outdated concept of "us" and "them".
To promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. International Finance Corporation.
This paper reviews the recent empirical evidence on privatization in developing countries, with particular emphasis on new areas of research such as the distributional impacts of privatization. Overall, the literature now reflects a more cautious and nuanced evaluation of privatization. Thus, private ownership alone is no longer argued to automatically generate economic gains in developing economies; pre-conditions especially the regulatory infrastructure and an appropriate process of privatization are important for attaining a positive impact.
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Initially created to assist the redevelopment of war torn Europe, the World Bank has evolved to a global institution concerned with both the enhancement of liberal trade policies across the planet, but also with the reduction of poverty through assisted development. The main accusations Rich points out are the lack of efficiency in promoting global development as well as diminishing the poverty phenomenon at the planetary level Danaher, It is fair to recognize the fact that the two contradicting views do not provide the field of International Political Economy with a stable and trustworthy dimension of the effectiveness of the World Bank as a global financial development institution. Having identified the problem, this research paper, by overcoming some of the data availability problems, will seek to obtain a clear, explanatory concept by combining the two views and therefore attaining a theoretical and empirical middle ground. Furthermore, the general structure of the argument will first present both the case for and against the World Bank, so that towards the final part of the paper the reader can be provided with a balanced view of the matter at hand, a view that will be further conceptualized in the concluding arguments.
The World Bank Group is a family of five multilateral institutions focused on economic development whose overarching mission is global poverty reduction. Established by Western powers in , the World Bank was originally tasked with rebuilding the economies of postwar Europe. Today the bank maintains more than 2, projects. Since April , the bank has been led by former U. A longtime critic of the bank, Malpass took over after the previous president, American public health expert Jim Yong Kim, unexpectedly stepped down.
Each of the World Bank Group's institutions produces its own annual report, which are available for download using the links below. Visit the World Bank Annual Report website for more information. IFC provides loans, equity, and advisory services to stimulate private sector investment in developing countries.
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Танкадо решил потрясти мир рассказом о секретной машине, способной установить тотальный правительственный контроль над пользователями компьютеров по всему миру. У АН Б не было иного выбора, кроме как остановить его любой ценой. Арест и депортация Танкадо, широко освещавшиеся средствами массовой информации, стали печальным и позорным событием.
Глаза ее не отрывались от экрана. Мозг лихорадочно искал какое-то другое объяснение, но не находил. Перед ее глазами было внезапно появившееся доказательство: Танкадо использовал меняющуюся последовательность для создания функции меняющегося открытого текста, а Хейл вступил с ним в сговор с целью свалить Агентство национальной безопасности. - Это н-не… - заикаясь, произнесла она вслух, - невероятно.