You are here

International Monetary Fund (IMF) vs the World Bank: What's the Difference?

Submitted by chegg987 on Wed, 01/24/2024 - 03:16

The International Monetary Fund (IMF) and the World Bank are prominent international financial organizations that play critical roles in global economics. The IMF was established in 1944, has a primary mission of ensuring the stability of the international monetary system. It provides short-term financial assistance to member countries facing balance of payments issues and offers policy advice to promote economic stability. Essentially, the IMF is like a financial paramedic, stepping in during financial emergencies.