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INTERNATIONAL
MONETARY FUND
Introduction
In 1944, as the 2nd World War neared its end, a
conference was convened by the victorious countries in
Bretton Wood, in the United States. It was here that the
World Bank and the International Monetary fund were
born- in the hope that they would provide the foundation
of a peaceful and prosperous future for the world.
69 years later, these two multi-lateral institutions also
known as Bretton Woods Institutions (BWIs) occupy a
dominant position in the global political economy, but they
are the target of powerful attack- both in the streets and in
media. And in the course of these 69 years, they have
been joined by a whole range of other multilateral
institutions. These institutions also play an important role
in elimination of world poverty.
countries.
Granting developmental loans to underdeveloped
countries.
Providing loans to governments for agriculture, irrigation,
power, transport, water supply, educations, health, etc.
Providing loans to private concerns for specified projects.
Promoting foreign investment by guaranteeing loans
provided by other organizations.
Providing technical, economic and monetary advice to
member countries for specific projects
Encouraging industrial development of underdeveloped
countries by promoting economic reforms.
Chinese.
(IMF) is an international organization that provides financial
Functions:
Providing short terms credit to member countries for
World Bank
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