role of imf and world bank

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  • The World Bank is a vital source of financial and technical assistance to developing countries around the world.
    MOBILE APP
    © The World Bank

    Learn more about the World Bank Group and how it operates. Download the free World Bank at a Glance iPhone app.

    Two Institutions, One Mission

    We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. We comprise two institutions managed by 188 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses exclusively on the world’s poorest countries. These institutions are part of a larger body known as the World Bank Group.

    Established in 1944, the World Bank is headquartered in Washington, D.C. We have more than 9,000 employees in more than 100 offices worldwide.

    Strategy

    Six strategic themes drive the Bank’s work, focusing on the poorest countries, fragile and conflict-affected states, the Arab world, middle-income countries, global public goods issues, and delivery of knowledge and learning services.

    There are also strategies for the key areas in which we work:

    Thematic and sector strategies, which guide our work to reduce poverty in a specific sector or aspect of development. Each derives from a broad consultation with a wide array of stakeholders.
    Country assistance strategies, which identify the key areas in which we can best support a country in reducing poverty and achieving sustainable development.

    Financial Products and Services

    We provide low-interest loans, interest-free credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of our projects are cofinanced with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors.

    We also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions.

    Innovative Knowledge Sharing

    We offer support to developing countries through policy advice, research and analysis, and technical assistance. Our analytical work often underpins World Bank financing and helps inform developing countries’ own investments. In addition, we support capacity development in the countries we serve. We also sponsor, host, or participate in many conferences and forums on issues of development, often in collaboration with partners.

    To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the Bank is constantly seeking to improve the way it shares its knowledge and engages with clients and the public at large. Key priorities include:

    Results: We continue to sharpen our focus on helping developing countries deliver measurable results.
    Reform: We are working to improve every aspect of our work: how projects are designed, how information is made available (Access to Information), and how to bring our operations closer to client governments and communities.
    Open Development: We offer a growing range of free, easy-to-access tools, research and knowledge to help people address the world's development challenges. For example, the Open Data website offers free access to comprehensive, downloadable indicators about development in countries around the globe. We have also made Open Forum—live discussions open to participants worldwide—a key part of our Spring and Annual Meetings with the International Monetary Fund.
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  • 1. ROLE OF IMF AND WORLD BANK SUBMITTED BY: POONAM 33 SEM-3
  • 2. ORGANISATION AND PURPOSE
    The International Monetary Fund was created in 1944 , with a goal to stabilize exchange rates and supervise the reconstruction of the world's international payment system.
    IMF is an organization of 185 countries. With the exception of North Korea, Cuba, Andorra, Monaco, Tuvalu, and Nauru, all UN member states participate directly in the IMF.
  • 3. WHAT THE IMF DOES?
  • 4. SURVEILLANCE
    Involves the monitoring of economic and financial developments, and the provision of policy advice, aimed especially at crisis-prevention.
  • 5. LENDS
    The IMF also lends to countries with balance of payments difficulties, to provide temporary financing and to support policies aimed at correcting the underlying problems; loans to low-income countries are also aimed especially at poverty reduction.
  • 6. TECHNICAL ASSISTANCE
    The IMF provides countries with technical assistance and training in its areas of expertise.
  • 7. How can the IMF help in crisis?
    When a country imports more than it exports, it has a "trade deficit.“
    it can cause foreign exchange shortages.
  • 8. The international monetary fund help member countries cope with foreign exchange shortages caused by balance of payments problems
  • 9. Dropping Exports Threaten an indian Economy
  • 10. Every year the country borrows more money from foreign banks and friendly governments to finance a growing volume of imports. The value of imports now far exceeds exports. So there isn’t enough foreign exchange to pay the debt and buy the imports.
  • 11. IMF PROCEDURE TO HELP!
    DEVALUE IMMEDIATELY RISKING YOUR CHANCE OF DEFEAT IN NEXT ELECTION
    WAIT UNTIL AFTER THE ELECTION, THEN DEVALUE THE CURRENCY
  • 12. CONGRATULATIONS!
    The currency devaluation you carried out in consultation with the IMF has made your country's exports more competitive. Trade expands and tourism flourishes as the outside world takes advantage of lower prices in your country. The inflow of foreign money give the country the funds needed to modernize its roads, airports, and communications. The economy begins to show signs of prosperity.
  • 13. WHAT IS WORLD BANK?
    The World Bank Group (WBG) was established in 1944 to rebuild post-World War II Europe under the International Bank for Reconstruction and Development (IBRD).
  • 14. Works as an inernationalorganisation
  • 15. MEMBERSHIP
    184 COUNTRIES ARE SHAREHOLDERS IN THE IBRD.
    TO BECOME A MEMBER
    a country must first join the International Monetary Fund (IMF).
  • 16. World bank overcoming the food crisis
    The Food Crisis: a Man-Made Problem
    High fuel costs have resulted in higher agriculture costs, falling food stocks, and land shifted out of food production to produce biofuels.
    The international community should help those in danger today and ensure the poor don’t suffer this tragedy again.
    The task is clear, but not simple.
    World Food Programme
    Fully fund the World Food Programme's emergency needs
    Support its drive to buy food aid locally
    Ensure the unhampered movement of humanitarian assistance
  • 17. Safety Nets
    Support safety nets, such as distributing food in schools or offering food for work, to quickly help those in severe distress.
    Seeds and Fertilizer
    Get seeds and fertilizer for the coming planting season to farmers in poor countries.
    The key is not just financing, but fast delivery systems.
    Agricultural Research
    Double spending on agricultural research and development to $800 million over the next 5 years through the Consultative Group on International Agricultural Research.
  • 18. Agribusiness
    Invest more in agribusiness to tap into the private sector's ability to work across the value chain.
    Risk Management
    Develop innovative risk management tools and crop insurance to protect poor farmers and help build food security.
    Biofuels
    Ease subsidies, mandates and tariffs on biofuels derived from corn and oilseeds. Policymakers should consider "safety valves" that ease these policies when prices are high.
    The choice does not have to be food or fuel.
  • 19. Export BansRemove export bans that have led to even higher world prices.28 countries have imposed such controls. Removing these bans could have a dramatic effect.
    Trade
    Conclude the Doha WTO trade deal to remove agricultural subsidies and tariffs and create a more efficient and fair global food trade.
    The need for multilateral rules has never been stronger.
    Collective Action
    Work together to counter global risks.
    The challenges of energy, food and water will be drivers of the world economy and security.
    The time to act is now.
  • 20. What the world bank is doing???
    The World Bank Group created a new $1.2 billion rapid financing facility—the Global Food Response Program (GFRP)—in May 2008 to speed assistance to the neediest countries.
    GFRP has approved and begun disbursing $200 million in 21 countries.
  • 21. GFRP is disbursing funds to Afghanistan ($8 million), Bangladesh ($130 million), Burundi ($10 million), Central African Republic ($7 million), Djibouti ($5 million), Guinea ($10 million), Guinea-Bissau ($5 million) Haiti ($10 million), Honduras ($10 million), Kyrgyz ($10 million), Liberia ($10 million), Madagascar ($10 million), Moldova ($7 million), Nepal ($36 million), Niger ($7 million), Rwanda ($10 million), Sierra Leone ($7 million), Somalia ($7 million), Southern Sudan ($5 million), Tajikistan ($9 million), Togo ($7 million) and Yemen ($10 million).
  • 22. THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK AT A GLANCE
    Oversees the international monetary system.
    draws its financial resources principally from the quota subscriptions of its member countries
    Seeks to promote the economic development of the world's poorer countries
    acquires most of its financial resources by borrowing on the international bond market
    IMF
    WORLD BANK
  • 23. IMF
    WORLD BANK
    promotes exchange stability and orderly exchange relations among its member countries
    provides to the poorest developing countries whose per capita GNP is less than $865 a year special financial assistance through the International Development Association (IDA)
  • 24. IMF
    WORLD BANK
    encourages private enterprises in developing countries through its affiliate, the International Finance Corporation (IFC)
    has a staff of 7,000 drawn from 180 member countries
    supplements the currency reserves of its members through the allocation of SDRs (special drawing rights); to date SDR 21.4 billion has been issued to member countries in proportion to their quotas
    has a staff of 2,300 drawn from 182 member countries
  • 25. IMF
    WORLD BANK
    assists all members--both industrial and developing countries--that find themselves in temporary balance of payments difficulties by providing short- to medium-term credits
    assists developing countries through long-term financing of development projects and programs
  • 26. IMF
    WORLD BANK
    has an authorized capital of $184 billion, of which members pay in about 10 percent
    has at its disposal fully paid-in quotas now totalling SDR 145 billion (about $215 billion)