What is the purpose of the International Monetary Fund and the World Bank?A.To provide disaster reliefB.To protect against military aggressionC.To promote economic developmentD.To improve human rights
Question
What is the purpose of the International Monetary Fund and the World Bank?A.To provide disaster reliefB.To protect against military aggressionC.To promote economic developmentD.To improve human rights
Solution
The purpose of the International Monetary Fund (IMF) and the World Bank can be understood by examining their primary functions:
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International Monetary Fund (IMF):
- The IMF aims to ensure the stability of the international monetary system.
- It provides financial assistance and advice to member countries facing economic difficulties.
- The IMF works to facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
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World Bank:
- The World Bank focuses on providing financial and technical assistance to developing countries.
- Its goal is to reduce poverty by providing loans and grants for projects that can improve infrastructure, education, health, and other critical areas.
- The World Bank supports long-term economic development and poverty reduction by investing in projects that build infrastructure and improve the economic prospects and quality of life for people in developing countries.
Given these functions, the correct answer is:
C. To promote economic development
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