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Essay / Research Paper Abstract
This 3-page paper discusses the roles of the IMF and World Bank, and whether they should work together. Also discussed is the effectiveness of the HIPC initiative. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MThipcinia.rtf
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To answer this question, it would be helpful to determine the mission of these two organizations.
The International Monetary Fund, or IMF, consists of 185 member countries with the goal of promoting international monetary cooperation, exchange stability and smooth and orderly exchange arrangements
(IMF, 2008). The IMF is also charged with boosting economic growth as well as providing temporary financial assistance to countries having troubles with their balance of payments adjustments (IMF, 2008).
In addition to financial and technical assistance, the organization also is involved with surveillance of the worlds economies (IMF, 2008). The organization was founded in the mid-1940s.
The World Bank is charged with providing financial and technical assistance to developing countries worldwide (World Bank, 2008). Though not a "bank" in the typical
sense, the World Bank is made up by two institutions owned by 185 member countries: The International Bank for Reconstruction and Development and the International Development Association (World Bank, 2008).
The World Bank provides low-interest loans, grants and interest-free credit to qualifying countries that need help with education, health and infrastructure,
as well as communications (World Bank, 2008). While the IBRD focuses on assisting middle-income and poor, but credit-worthy countries, the IDAs mission
is to lend support to very poor countries (World Bank, 2008). Therefore, the IMF is more of an advisory body, while
the World Bank is a lending body. In theory, both organizations would do much better when it comes to working together. But in reality, these two organizations seem to be
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