{"id":7975,"date":"2022-10-29T14:34:05","date_gmt":"2022-10-29T09:04:05","guid":{"rendered":"https:\/\/www.sabguru.com\/en\/?p=7975"},"modified":"2022-10-29T14:34:05","modified_gmt":"2022-10-29T09:04:05","slug":"international-economic-institutions-part-1-imf-and-world-bank","status":"publish","type":"post","link":"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/","title":{"rendered":"International Economic Institutions Part \u2013 1- IMF and World Bank"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong>INTERNATIONAL FINANCIAL INSTITUTIONS<\/strong><\/h2>\n<p style=\"text-align: justify;\">An\u00a0international financial institution\u00a0(IFI) is a\u00a0financial institution\u00a0that has been <strong>established (or chartered) by more than one country<\/strong>, and hence is subject to\u00a0international law. International financial institutions such as the World Bank and the Asian Development Bank <strong>provide significant financial and technical support for developing countries<\/strong> in their efforts to <strong>eradicate poverty and achieve the Sustainable\u00a0Development Goals (SDGs).<\/strong>\u00a0International Financial Institutions (IFIs), including <strong>multilateral, regional and national development banks with international operations<\/strong>, are critical development partners to achieve the\u00a0Sustainable Development Goals (SDGs).<\/p>\n<h3 style=\"text-align: justify;\"><strong>IMF<\/strong><\/h3>\n<h3 style=\"text-align: justify;\"><img loading=\"lazy\" class=\"alignnone size-medium wp-image-7976\" src=\"https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/The-International-Monetary-Fund-IMF-is-an-organization-300x193.png\" alt=\"\" width=\"300\" height=\"193\" srcset=\"https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/The-International-Monetary-Fund-IMF-is-an-organization-300x193.png 300w, https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/The-International-Monetary-Fund-IMF-is-an-organization-655x420.png 655w, https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/The-International-Monetary-Fund-IMF-is-an-organization-150x96.png 150w, https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/The-International-Monetary-Fund-IMF-is-an-organization.png 681w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/h3>\n<p style=\"text-align: justify;\">The International Monetary Fund (IMF) is an organization of <strong>189 countries<\/strong>, working to:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>foster global monetary cooperation<\/strong><\/li>\n<li><strong>secure financial stability<\/strong><\/li>\n<li><strong>facilitate international trade<\/strong><\/li>\n<li><strong>promote high employment and sustainable economic growth<\/strong><\/li>\n<li><strong>reduce poverty around the world.<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Created in <strong>1945<\/strong>, the IMF is governed by and accountable to the 189 countries that make up its near-global membership. The IMF\u2019s\u00a0<strong>primary purpose<\/strong>\u00a0is to <strong>ensure the stability of the international monetary system\u2014the system of exchange rates and international payments<\/strong> that enables countries (and their citizens) to transact with each other.<\/p>\n<ul>\n<li><strong>Managing Director\u200e: \u200e<\/strong><strong>Kristalina Georgieva\u00a0<\/strong>\n<ul style=\"text-align: justify;\">\n<li><strong>Headquarters\u200e: \u200eWashington, D.C. U.S<\/strong><\/li>\n<li><strong>Chief Economist\u200e: \u200e<\/strong><strong>Gita Gopinath<\/strong><\/li>\n<li><strong>IMFs financial year is from May 1 to April 30<\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>History<\/strong>: In 1944, representatives of 44 nations met in <strong>Bretton Woods, New Hampshire, <\/strong>to draw up a plan for the <strong>post-World War II economic order<\/strong>. Their goal was to avoid a repetition of the destructive policies that could spark another conflict. So they created the IMF to promote international monetary cooperation.<\/p>\n<p class=\"has-background has-luminous-vivid-amber-background-color\" style=\"text-align: justify;\"><strong>What IMF does?<\/strong><\/p>\n<p class=\"has-background has-light-green-cyan-background-color\" style=\"text-align: justify;\">The IMF\u2019s fundamental mission is to <strong>ensure the stability of the international monetary system<\/strong>. It does so in three ways: keeping track of the global economy and the economies of member countries (<strong>economic surveillance<\/strong>); <strong>lending to countries with balance of payments difficulties<\/strong>; and giving practical help to members <strong>(capacity development)<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>Quotas<\/strong><strong>: <\/strong><\/p>\n<p style=\"text-align: justify;\">Quota subscriptions are a central component of the IMF\u2019s financial resources. Each member country of the IMF is assigned a quota, based broadly on its relative position in the world economy. A member\u2019s quota subscription determines the maximum amount of financial resources the member is obliged to provide to the IMF.\u00a0 A member must pay its subscription in full upon joining the IMF: up to 25 percent must be paid in SDRs or foreign currencies acceptable to the IMF (such as the US dollar, the euro, the Chinese renminbi, the Japanese yen, or the British pound sterling), while the rest is paid in the member\u2019s own currency. The amount of financing a member can obtain from the IMF (its access limit) is based on its quota.<\/p>\n<p style=\"text-align: justify;\"><strong>Special Drawing Rights (SDR)<\/strong><strong>: <\/strong><\/p>\n<p style=\"text-align: justify;\">The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries\u2019 official reserves. Presently, value of one SDR is determined by a basket of 5 currencies namely:<\/p>\n<ul style=\"text-align: justify;\">\n<li>US dollar- highest weightage<\/li>\n<li>Euro<\/li>\n<li>Yen<\/li>\n<li>British pound<\/li>\n<li>Chinese Renminbi<\/li>\n<\/ul>\n<h6 style=\"text-align: justify;\">\u00a0\u00a0<a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2016\/07\/14\/12\/21\/IMF-Quotas\">Country Representation<\/a>:<\/h6>\n<p style=\"text-align: justify;\">IMF is controlled and managed by a board of governors. Each member country nominates a Governor and all nominated governors make the board of governors. Each governor is allotted a number of votes, which is determined by the quota allotted to the respective country in IMF. Decision making at the IMF is designed to reflect the relative positions of its\u00a0member countries in the global economy. India\u2019s voting rights increased by 0.3% from the current 2.3% to 2.6%<\/p>\n<p class=\"has-text-color has-background has-very-dark-gray-color has-light-green-cyan-background-color\" style=\"text-align: justify;\"><strong>Reports published by the IMF<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>World Economic Outlook<\/li>\n<li>Regional Economic Report<\/li>\n<li>Global Financial Stability Report<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>WORLD ECONOMIC OUTLOOK CHAPTER 1, APRIL 2020<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>The Great Lockdown<\/strong><\/p>\n<blockquote class=\"wp-block-quote\">\n<p style=\"text-align: justify;\">The global economy is projected to <strong>contract sharply by 4.9% in 2020<\/strong> as a result of the COVID-19 pandemic, a much <strong>worse contraction than during the 2008\u201309 financial crisis.<\/strong><\/p>\n<p style=\"text-align: justify;\"><cite> <strong>WORLD ECONOMIC OUTLOOK Update June 2020<\/strong><\/cite><\/p>\n<h2 style=\"text-align: justify;\"><strong>THE WORLD BANK<\/strong><\/h2>\n<p style=\"text-align: justify;\">The World Bank is a vital source of <strong>financial and technical assistance to developing countries<\/strong> around the world. It provides <strong>low-interest loans, zero to low-interest credits, and grants<\/strong> to developing countries.\u00a0Established in <strong>1944,<\/strong> the World Bank Group is <strong>headquartered in Washington, D.C<\/strong>.<\/p>\n<ul style=\"text-align: justify;\">\n<li>Members-<strong>189<\/strong><\/li>\n<li>President \u2013 <strong>David Malpass<\/strong><\/li>\n<li><strong>Anshula Kant<\/strong> is the chief financial officer and managing director of the World Bank Group<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>History: <\/strong>The <strong>Bretton Woods Conference<\/strong>, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations to regulate the international monetary and financial order after the conclusion of <strong>World War II. <\/strong>Agreements were signed that, after legislative ratification by member governments, <strong>established the International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF).<\/strong><\/p>\n<p style=\"text-align: justify;\">The World Bank Group has set <strong>two\u00a0<\/strong><a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2013\/04\/17\/ending_extreme_poverty_and_promoting_shared_prosperity\"><strong>goals<\/strong><\/a>\u00a0for the world to <strong>achieve by 2030<\/strong>:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>End extreme poverty<\/strong> by decreasing the percentage of people living on <strong>less than $1.90 a day to no more than 3%<\/strong><\/li>\n<li><strong>Promote shared prosperity<\/strong> by fostering the income growth of the <strong>bottom 40% for every country<\/strong><\/li>\n<\/ul>\n<p class=\"has-background has-light-green-cyan-background-color\" style=\"text-align: justify;\">The <strong>World Bank Group consists of five organizations<\/strong>:<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.worldbank.org\/ibrd\"><strong>The International Bank for Reconstruction and Development<\/strong><\/a><strong>: <\/strong>The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.worldbank.org\/ida\"><strong>The International Development Association<\/strong><\/a><strong>: <\/strong>The International Development Association (IDA) provides interest-free loans \u2014 called credits \u2014 and grants to governments of the poorest countries. Together, IBRD and IDA make up the World Bank.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.ifc.org\/\"><strong>The International Finance Corporation<\/strong><\/a><strong>:<\/strong> The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.miga.org\/\"><strong>The Multilateral Investment Guarantee Agency<\/strong><\/a><strong>: <\/strong>The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people\u2019s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/icsid.worldbank.org\/\"><strong>The International Centre for Settlement of Investment Disputes<\/strong><\/a><strong>:<\/strong> The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.<\/p>\n<p class=\"has-text-color has-luminous-vivid-orange-color\" style=\"text-align: justify;\"><strong>India is a member of 4 institutions under world bank group. It is not a member of ICSID.<\/strong><\/p>\n<p style=\"text-align: justify;\">To become a member, however, <strong>a country must first join the International Monetary Fund (IMF).\u00a0 <\/strong>The <strong>size of the World Bank\u2019s shareholders<\/strong>, like that of the IMF\u2019s shareholders, <strong>depends on the size of a country\u2019s economy<\/strong><\/p>\n<p class=\"has-background has-luminous-vivid-amber-background-color\" style=\"text-align: justify;\"><strong>Reports published by World Bank <\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">Global Economic Prospects<\/li>\n<li style=\"text-align: justify;\">Ease of Doing Business<\/li>\n<li style=\"text-align: justify;\">World Development Report<\/li>\n<li style=\"text-align: justify;\">Global Economic Prospects Report<\/li>\n<li style=\"text-align: justify;\">India Development Update<\/li>\n<li>Universal Health Coverage Index<br \/>\n<h2 style=\"text-align: justify;\"><strong>The United Nations (UN)<\/strong><\/h2>\n<p style=\"text-align: justify;\">The United Nations is an <strong>international organization founded in 1945<\/strong>.\u00a0 It is currently made up of <strong>193 Member States<\/strong>.\u00a0 The mission and work<\/p>\n<p style=\"text-align: justify;\">of the United Nations are guided by the purposes and principles contained in its founding Charter. Each of the 193 Member States of the United Nations is a member of the General Assembly.\u00a0 <strong>States are admitted to membership in the UN by a decision of the General Assembly upon the recommendation of the Security Council.<\/strong><\/p>\n<p style=\"text-align: justify;\">The main organs of the UN are <strong>the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the UN Secretariat.<\/strong><\/p>\n<h2 style=\"text-align: justify;\"><strong>The World Trade Organization (WTO)<\/strong><\/h2>\n<p style=\"text-align: justify;\">The World Trade Organization (WTO) is the <strong>only global international organization dealing with the rules of trade <\/strong>between nations<\/p>\n<ul style=\"text-align: justify;\">\n<li>Location: <strong>Geneva, Switzerland<\/strong><\/li>\n<li>Established: <strong>1 January 1995<\/strong><\/li>\n<li>Created by: <strong>Uruguay Round negotiations<\/strong> (1986-94)<\/li>\n<li>Membership: <strong>164 members representing 98 per cent of world trade<\/strong><\/li>\n<li>Head: <strong>Roberto Azev\u00eado<\/strong> (Director-General)<\/li>\n<li>The WTO\u2019s <strong>top decision-making body is the Ministerial Conference<\/strong>.<br \/>\nMinisterial conferences usually take place every two years.<\/li>\n<li>The <strong>General Council is the top day-to-day decision-making body<\/strong>.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Functions:<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>Administering WTO trade<\/strong> agreements<\/li>\n<li>Forum for <strong>trade negotiations<\/strong><\/li>\n<li><strong>Handling trade disputes<\/strong><\/li>\n<li><strong>Monitoring national trade policies<\/strong><\/li>\n<li><strong>Technical assistance<\/strong> and training for developing countries<\/li>\n<li><strong>Cooperation <\/strong>with other international organizations<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The WTO is the <strong>successor to the General Agreement on Tariffs and Trade (GATT)<\/strong> established in the wake of the Second World War. <strong>GATT was the first worldwide multilateral free trade agreement<\/strong>. It was in effect from June 30, 1948 until January 1, 1995. It ended when it was replaced by the World Trade Organization.<\/p>\n<p style=\"text-align: justify;\"><strong>WTO Agreements:<\/strong> The agreements fall into a simple structure with six main parts<\/p>\n<ul style=\"text-align: justify;\">\n<li>An <strong>umbrella agreement<\/strong> (the Agreement Establishing the WTO)<\/li>\n<li>Agreements for each of the three broad areas of trade that the WTO covers (<strong>goods, services and intellectual property<\/strong>)<\/li>\n<li><strong>Dispute settlement<\/strong><\/li>\n<li><strong>Reviews of governments\u2019 trade policies<\/strong>.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><strong>Principle\u00a0of Trade<\/strong><\/h4>\n<ul style=\"text-align: justify;\">\n<li><strong>Trade without discrimination- <\/strong><strong>Most Favored Nation (MFN):<\/strong>\u00a0Treating other nations equally. Under the WTO principle of\u00a0trading\u00a0system, countries normally are not allowed to discriminate between their trading partners.<\/li>\n<li><strong>National Treatment:<\/strong>\u00a0Treating foreigners and locals equally. Under this principle, foreign goods are given\u00a0same\u00a0treatment as one\u2019s own.<\/li>\n<li><strong>Free Trade:<\/strong>\u00a0Lowering trade barriers is one of the most obvious means of encouraging trade.<\/li>\n<li><strong>Predictability:<\/strong>\u00a0With stability, predictability and binding commitments, WTO principle seeks to encourage investment, create jobs and to accrue the benefits of competition to consumers in the form of choice quality and lower prices.<\/li>\n<li><strong>Promoting Fair Competition:<\/strong>\u00a0WTO agreements also aim to support fair competition in trade in agriculture, intellectual property, services etc.<\/li>\n<li><strong>Encouraging Development and Economic Reforms:<\/strong>\u00a0Developing countries that need\u00a0flexibility\u00a0to implement the system\u2019s agreements are given special assistance and trade concessions under WTO rules. This promotes economic reforms and development in these countries.<\/li>\n<\/ul>\n<p class=\"has-background has-cyan-bluish-gray-background-color\" style=\"text-align: justify;\"><strong>What is Doha Development Agenda?<\/strong>\u00a0 The Doha Round of world trade negotiations \u2013 also known as the Doha Development Agenda \u2013 was launched in <strong>Doha, Qatar in November 2001<\/strong>.\u00a0 The talks aimed at further liberalizing trade, whilst making it easier for developing countries, particularly Least Developed Countries (LDCs), to integrate into the WTO multilateral system.<\/p>\n<p style=\"text-align: justify;\"><strong>The\u00a0Agreement on Agriculture\u00a0(AoA)<\/strong> is an <strong>international\u00a0<\/strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Treaty\"><strong>treaty<\/strong><\/a><strong>\u00a0of the\u00a0<\/strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/World_Trade_Organization\"><strong>World Trade Organization<\/strong><\/a>. It was negotiated during the\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Uruguay_Round\"><strong>Uruguay Round<\/strong><\/a><strong>\u00a0of the\u00a0<\/strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/General_Agreement_on_Tariffs_and_Trade\"><strong>General Agreement on Tariffs and Trade<\/strong><\/a>, and entered into force with the establishment of the WTO on January 1, 1995. The Agreement on Agriculture constitutes of <strong>three pillars\u2014domestic support, market access, and export subsidies.<\/strong><\/p>\n<p style=\"text-align: justify;\">AoA divides domestic support into two categories: <strong>trade-distorting and non-trade-distorting (or minimally trade-distorting)<\/strong>. The WTO Agreement on Agriculture negotiated in the\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Uruguay_Round\">Uruguay Round<\/a>\u00a0(1986\u20131994) includes the <strong>classification of\u00a0<\/strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Subsidies\"><strong>subsidies<\/strong><\/a><strong>\u00a0by \u201cboxes\u201d<\/strong> depending on consequences of production and trade<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>Green Box:<\/strong> Subsidies <strong>which are not or least market distorting includes measures decoupled from output<\/strong> such as safety net programs, payments under environmental programs etc.<\/li>\n<li><strong>Blue Box: Only \u2018Production limiting Subsidies\u2019<\/strong> under this are allowed. They cover payments based on acreage, yield, or number of livestock in a base year.<\/li>\n<li><strong>Amber Box:\u00a0 <\/strong>Those subsidies which <strong>are trade distorting and need to be curbed. <\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><strong>Asian Development Bank (ADB)<\/strong><\/h2>\n<p style=\"text-align: justify;\">ADB is committed to <strong>achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific<\/strong>, while sustaining its efforts to <strong>eradicate extreme poverty<\/strong>. Established in <strong>1966, it is owned by 68 members\u201449 from the region.<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Headquarters: The Philippines capital of<\/li>\n<li>Takeshi Watanabe was ADB\u2019s first President.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">ADB <strong>assists its members, and partners, by providing loans, technical assistance, grants, and equity investments<\/strong> to promote social and economic development. The ADB offers <strong>\u201chard\u201d loans on commercial terms primarily to middle income countries<\/strong> in Asia and <strong>\u201csoft\u201d loans with lower interest rates to poorer countries.<\/strong><\/p>\n<h2 style=\"text-align: justify;\"><strong>African Development Bank<\/strong><\/h2>\n<p style=\"text-align: justify;\">The overarching objective of the African Development Bank (AfDB) Group is to <strong>spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction<\/strong>.<\/p>\n<p style=\"text-align: justify;\">The Bank Group achieves this objective by:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>mobilizing and allocating resources<\/strong> for investment in RMCs; and<\/li>\n<li><strong>providing policy advice and technical assistance<\/strong> to support development efforts.<\/li>\n<li><strong>Founded\u00a01964<\/strong><\/li>\n<li>Constituent Institutions\n<ul>\n<li><a href=\"https:\/\/www.afdb.org\/en\/about\/corporate-information\/african-development-bank-afdb\"><strong>The African Development Bank (ADB)<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/www.afdb.org\/en\/about-us\/corporate-information\/african-development-fund-adf\/\"><strong>The African Development Fund (ADF)<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/www.afdb.org\/en\/about-us\/corporate-information\/nigeria-trust-fund-ntf\/\"><strong>The Nigeria Trust Fund (NTF)<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li>Shareholders- <strong>81 countries<\/strong>\u2013 India a non regional member<\/li>\n<li><a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=african+development+bank+president&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi7WUssot9JPzs_JSU0uyczP088vSk_My6xKBHGKrQqKUoszU1LzShaxKiWmFWUmJ-YppKSWpebkF-QCRRWSEvOyFeCKADa52AlaAAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQ6BMoADAxegQIBhAC\"><strong>President<\/strong><\/a><strong>:\u00a0<a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=Akinwumi+Adesina&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi5W4gYxDQ3Lcgqys7XUMsqt9JPzc3JSk0sy8_P084vSE_MyqxJBnGKrgqLU4syU1LySRawCjtmZeeWluZkKjilAwbzEHayMAHrfaJZYAAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQmxMoATAxegQIBhAD\">Akinwumi Adesina<\/a><\/strong><\/li>\n<li><a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=african+development+bank+ceo&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi7WUsxOttLPL0pPzMusSizJzM9D4Vglp-YvYpVJTCvKTE7MU0hJLUvNyS_ITc0rUUhKzMtWAEoDAPXnd0dPAAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQ6BMoADAyegQIChAC\"><strong>CEO<\/strong><\/a><strong>:\u00a0<a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=Akinwumi+Adesina&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi5W4gYxDQ3Lcgqys7UUs5Ot9POL0hPzMqsSSzLz81A4Vsmp-YtYBRyzM_PKS3MzFRxTUosz8xJ3sDICAKypcNFTAAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQmxMoATAyegQIChAD\">Akinwumi Adesina<\/a><\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=african+development+bank+headquarters&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi7W0sgot9JPzs_JSU0uyczP088vSk_My6xKBHGKrdITi4oyi4HCGYWLWFUT04oykxPzFFJSy1Jz8gtyU_NKFJIS87IVMlITUwpLE4tKUouKAeeJ5_tfAAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQ6BMoADAzegQIDRAC\">Headquarters<\/a>:\u00a0<a href=\"https:\/\/www.google.com\/search?safe=active&amp;rlz=1C1CHBF_enIE916IE916&amp;sxsrf=ALeKk029U9eVLxMHGPTeWlsu5sRKdrGS6g:1598966668337&amp;q=Abidjan&amp;stick=H4sIAAAAAAAAAOPgE-LUz9U3SDJLLi5W4gAx03IrU7Q0Msqt9JPzc3JSk0sy8_P084vSE_MyqxJBnGKr9MSiosxioHBG4SJWdsekzJSsxLwdrIwATZWlPk4AAAA&amp;sa=X&amp;ved=2ahUKEwiFkZiCh8jrAhWbi1wKHVS0DkoQmxMoATAzegQIDRAD\"><strong>Abidjan, C\u00f4te d\u2019Ivoire<\/strong><\/a><\/p>\n<h2 style=\"text-align: justify;\"><strong>\u00a0<\/strong><\/h2>\n<\/li>\n<\/ul>\n<\/blockquote>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>INTERNATIONAL FINANCIAL INSTITUTIONS An\u00a0international financial institution\u00a0(IFI) is a\u00a0financial institution\u00a0that has been established (or chartered) by more than one country, and hence is subject to\u00a0international law. International financial institutions such as the World Bank and the Asian Development Bank provide significant financial and technical support for developing countries in their efforts to eradicate poverty and achieve [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":7978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[1931,2259,1887,2260],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>International Economic Institutions Part \u2013 1- IMF and World Bank - Sabguru News English<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Economic Institutions Part \u2013 1- IMF and World Bank - Sabguru News English\" \/>\n<meta property=\"og:description\" content=\"INTERNATIONAL FINANCIAL INSTITUTIONS An\u00a0international financial institution\u00a0(IFI) is a\u00a0financial institution\u00a0that has been established (or chartered) by more than one country, and hence is subject to\u00a0international law. International financial institutions such as the World Bank and the Asian Development Bank provide significant financial and technical support for developing countries in their efforts to eradicate poverty and achieve [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/\" \/>\n<meta property=\"og:site_name\" content=\"Sabguru News English\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-29T09:04:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sabguru.com\/en\/wp-content\/uploads\/2022\/07\/International-Economic-Institutions-Part-1-IMF-and-World-Bank.png\" \/>\n\t<meta property=\"og:image:width\" content=\"806\" \/>\n\t<meta property=\"og:image:height\" content=\"418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mehul Jain\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mehul Jain\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/\",\"url\":\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/\",\"name\":\"International Economic Institutions Part \u2013 1- IMF and World Bank - Sabguru News English\",\"isPartOf\":{\"@id\":\"https:\/\/www.sabguru.com\/en\/#website\"},\"datePublished\":\"2022-10-29T09:04:05+00:00\",\"dateModified\":\"2022-10-29T09:04:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.sabguru.com\/en\/#\/schema\/person\/2fe3e4b96cf698622c7ea572d39b61d6\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.sabguru.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"International Economic Institutions Part \u2013 1- IMF and World Bank\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.sabguru.com\/en\/#website\",\"url\":\"https:\/\/www.sabguru.com\/en\/\",\"name\":\"Sabguru News English\",\"description\":\"Watch T20 2022 match with highlights Sabguru Sports\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.sabguru.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.sabguru.com\/en\/#\/schema\/person\/2fe3e4b96cf698622c7ea572d39b61d6\",\"name\":\"Mehul Jain\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.sabguru.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/87dd404877a06eda54518cb852db602a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/87dd404877a06eda54518cb852db602a?s=96&d=mm&r=g\",\"caption\":\"Mehul Jain\"},\"url\":\"https:\/\/www.sabguru.com\/en\/author\/mehuljain\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"International Economic Institutions Part \u2013 1- IMF and World Bank - Sabguru News English","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.sabguru.com\/en\/international-economic-institutions-part-1-imf-and-world-bank\/","og_locale":"en_US","og_type":"article","og_title":"International Economic Institutions Part \u2013 1- IMF and World Bank - Sabguru News English","og_description":"INTERNATIONAL FINANCIAL INSTITUTIONS An\u00a0international financial institution\u00a0(IFI) is a\u00a0financial institution\u00a0that has been established (or chartered) by more than one country, and hence is subject to\u00a0international law. 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