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Shenali D Waduge
Both the World Bank and the IMF were founded in 1944 at the
Bretton Woods conference. The World Bank is tasked to aid developing nations in
reducing poverty and increasing their well-being. The IMF’s main purpose is to
stabilize the international monetary system and oversee the world’s currencies.
The World Bank offers financing, policy advice, and technical assistance to
governments, and also focuses on strengthening the private sector in developing
countries. The IMF keeps track of the economy globally and in member countries,
lends to countries with balance of payment difficulties, and gives practical
help to members.” Thus IMF & World Bank are the left & right hands of
China
Cuba
North-korea
South-korea
Seychelles
Sri-lanka
Shenalid-waduge
Gavin-karunaratna
Fund-facility
World-bank
Gal-oya-development
Bretton-woods