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What is IMF and world bank |
| Answer» International Monetary Fund (IMF) came into existence in 1945 with an aim to evolve an orderly international monetary system, i.e., facilitating system of international payments and adjustments in exchange rates among national currencies. Its headquarters is located in Washington DC. In 2005, it had 191 countries as its members.The World Bank was initially created to help with economic development. It was originally formed shortly after World War II in an effort to rebuild the economies of war-torn countries, but its mission is now global in scope. The general mission of the World Bank is to provide long-term financing for economic development. | |