At its inception, the member countries were only 31 which has been exceeded to 188 countries. The IMF is an autonomous body which began its operations in 1947. The International Monetary Fund is a Bretton Woods Institution, founded in the year 1944, based in Washington, D.C., USA. To lessen poverty and promote the long term development of the economy. To deal with all the issues related to the financial sector and macroeconomics. It has two major institutions, namely International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). It is a single organization with four credit lines. Content: IMF Vs World BankĪn international organization maintaining the global monetary system is the International Monetary Fund.Ī global organization established to finance and advice the developing nations, in order to make them economically developed is World Bank. Here, in this article we have explained the difference between world bank and IMF, take a read. On the other hand, IMF is formed to promote financial stability, international trade, high employment, reduce poverty and so on.
World Bank provides financial and technical aid to the developing nations of the world.
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