Question

Which two international organizations most help developing countries? the IMF and the WTO the WTO and the G20 the IMF and the World Bank the G20 and the World Bank

Answer 1

Correct answer: The IMF and the World Bank

Explanation/details:

• The International Bank for Reconstruction and Development (IBRD) is the largest institution in what is officially known as the World Bank Group. The IBRD was established by an international conference that met at Bretton Woods, New Hampshire, in 1944. The IBRD remains the largest of five development bank institutions that make up the World Bank Group. An agreement between the World Bank and the United Nations was made in 1947 that classifies the World Bank as a specialized agency of the UN, while recognizing it also as an independent international organization. According to the World Bank Group's own information, the World Bank's mission is " to reduce poverty and support development" by providing "low-interest loans, zero to low-interest credits, and grants to developing countries."

• The Bretton Woods Conference in 1944 had the goal of establishing an international order for monetary policy after World War II. That conference of more than 700 representatives from 44 countries not only made plans for what we now call the World Bank. It also made plans for the International Monetary Fund (IMF). According to the IMF's own information, the IMF "is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." The IMF has $1 trillion available in lending funds, and grants interest rates as low as 0% to low-income countries. The IMF works to assist "assists countries hit by crises by providing them financial support to create breathing room as they implement adjustment policies to restore economic stability and growth. It also provides precautionary financing to help prevent and insure against crises" (IMF Lending Factsheet, March 8, 2018).

Answer 2

The correct answer is the IMF and the World Bank.

The World Bank is a source of financial and technical assistance to developing countries, with the aim of reducing poverty through low-interest loans, interest-free loans at the banking level, and economic support to developing nations.

On the other hand, the IMF is an international financial organization that was born as an idea in the Bretton Woods agreements. Its objectives are to promote international monetary cooperation in addition to facilitating the expansion and balanced growth of international trade.