Question

The two agencies that solve the economic problems of various countries are _____ and _____.

• A. WHO and IMF
• B. IBRD and IMF
• C. Country's own government and IMF
• D. None of these

Answer 1

The correct option is B IBRD and IMF

IBRD (World Bank) - The International Bank for Reconstruction and Development was created in 1944 to help Europe rebuild after World War II. Today, IBRD provides loans and other assistance primarily to middle income countries. IBRD is the original World Bank institution. It works closely with the rest of the World Bank Group to help developing countries reduce poverty, promote economic growth, and build prosperity. IBRD is owned by the governments of its 189 member countries, which are represented by a 25-member board of 5 appointed and 20 elected Executive Directors. The institution provides a combination of financial resources, knowledge and technical services, and strategic advice to developing countries, including middle income and creditworthy lower income countries.

IMF - The International Monetary Fund is an international organisation created for the purpose of standardising global financial relations and exchange rates. The IMF generally monitors the global economy, and its core goal is to economically strengthen its member countries. Specifically, the IMF was created with the intention of:

1. Promoting global monetary and exchange stability.

2. Facilitating the expansion and balanced growth of international trade.

3. Assisting in the establishment of a multilateral system of payments for current transactions.