Updating the new CIE AS and A Level syllabus for 2023 and external debt and the role of IMF and World Bank are part of Unit 11 of CIE A2 syllabus. This is an area where students get confused as to the role of each organisation.
The International Monetary Fund (IMF) (http://www.imf.org) promotes international financial stability of the world’s monetary system. Lends to countries with balance of payments problems and aims to promote development by restoring short run stability and by supporting long term adjustment and reform
The World Bank (http://www.worldbank.org) promotes institutional, structural and social development by providing low interest loans and technical assistance for domestic investment projects. It’s goal is to reduce poverty by offering assistance to middle-income and low-income countries. It aims to help countries meet the UN Millennium Development Goals.
Below is a useful video from CNBC on the differences.
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