International Monetary Fund : The Imf And The World Bank

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The International Monetary Fund, otherwise known as the IMF and the World Bank are two of the most economic organizations. While they are both economic organizations, they have different objectives. In order to understand these objectives, one must know why these organizations were formed and what if anything they have accomplished. Based on said accomplishments and also based on their initial goals, one can infer which of the two has been a success. Therefore, it can be said that when it comes to keeping with the original goal as to why the organization was founded, the International Monetary Fund has failed while the World Bank has succeeded. To start, the original goal of the International Monetary Fund was to “monitor and help maintain pegged but adjustable exchange rates, primarily between the countries of Western Europe and the United States.” (Vreeland and Raymond). This international organization came into being as a part of the “Bretton Woods Agreements.” (Vreeland and Raymond) The “Bretton Woods Agreements” was signed by 44 countries in order to establish both the IMF and the WB on July 22, 1944. Today, the IMF is a near global organization with one hundred eighty nine members, almost as much as the United Nations itself. (Vreeland and Raymond) Given the claim from above that the IMF has failed in its original goal, why then does it have so many members? The answer to that question correlates as to why the IMF is a failure in the first place. While the IMF was
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