When is a fund a Bank and bank a Fund?

If you’re like me, you ask hard-hitting questions like, “what exactly is the difference between the World Bank and IMF?” Well, luckily, Slate answered this question over a decade ago, and was kind enough to re-post the article in light of recent events.

Employees at the World Bank and IMF can actually have bank accounts through the organizations' joint credit union. How cool is that?

The IMF is more likely to come to the aid of countries in acute fiscal crisis, especially if they run the risk of defaulting on loans and destabilizing international trade.

The World Bank is more development-focused, pushing projects to boost the standing of countries that may or may not be experiencing financial or other crises.

Finally, from Slate: “John Maynard Keynes—the intellectual architect of the system—thought the Fund should be called a bank and the Bank should be called a fund.”

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About schwartz1983

Medical student. Aspiring public health practitioner.
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