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Similarities Of Imf And World Bank

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The International Monetary Fund (IMF) is an international organization headquartered in Washington, DC, which is UN specialized agency established in 1944 under Bretton Woods system to help prevent unstable exchange trade it is found in 188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.Whiles the World Bank is an international financial institution that provides loans to developing countries for capital programs..
The IMF, world bank and Brics seeks to achieve a common goal in the below areas
Currently, the IMF and World Bank portray many common characteristics while they are performing their tasks. First of all, the IMF and World Bank are controlled by the member nation 's governments. Another similar characteristics shared by the World Bank and the Brics bank is the establishment of forex reserves available to member countries in times when the value of their countries are threatened to drop. In the case of the Brics Bank they have the Contingent Reserve Arrangement whereas the IMF also has a pool of Currencies which is a collective foreign currency fund from all member nations
Besides, both IMF and World Bank concern their member nations based on the economic issues. They also put more effort on enlarging the economies. In the both institutions, their staff members attend the conferences and talk the similar
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The people should come first and their concerns and thoughts on a project should account for the planning, especially when the project involves developing a region. In order for an international financial institution like the World Bank to really do what is right for a region, the whole infrastructure would have to be re organized. For example, since the United States contributes the most money, they have the most say and the most amount of representatives. Each region that invests into the World Bank only has as much say as their pockets will allow.

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