The difference between IMF and WB
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The International Monetary Fund
and the World Bank at a Glance
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International Monetary Fund
- oversees the international monetary system
- promotes exchange stability and orderly exchange relations among its member countries
- assists all members--both industrial and developing countries--that find
themselves in temporary balance of payments difficulties by providing short- to
medium-term credits
- supplements the currency reserves of its members through the allocation of SDRs
(special drawing rights); to date SDR 21.4 billion has been issued to member countries in
proportion to their quotas
- draws its financial resources principally from the quota subscriptions of its member
countries
- has at its disposal fully paid-in quotas now totaling SDR 145 billion (about $215 billion)
- has a staff of 2,300 drawn from 182 member countries
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World Bank
- seeks to promote the economic development of the world's poorer countries
- assists developing countries through long-term financing of development projects and
programs
- provides to the poorest developing countries whose per capita GNP is less than $865 a
year special financial assistance through the International Development Association (IDA)
- encourages private enterprises in developing countries through its affiliate, the
International Finance Corporation (IFC)
- acquires most of its financial resources by borrowing on the international bond market
- has an authorized capital of $184 billion, of which members pay in about 10 percent
- has a staff of 7,000 drawn from 180 member countries
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