THE MAKING OF A GLOBAL WORLD

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Founded at the Bretton Woods conference in 1944, the
two institutions have complementary missions
• The International Monetary
Fund serves to stabilize the • The World Bank
international monetary system and
Group provides financing,
acts as a monitor of the world’s
currencies. policy advice, and technical
assistance to governments,
• The IMF keeps track of the and also focuses on
economy globally and in member strengthening the private
countries, lends to countries with sector in developing countries.
balance of payments difficulties, and
gives practical help to members. 
Countries must first join the IMF to • The World Bank Group works
be eligible to join the World Bank with developing countries to
Group; today, each institution has reduce poverty and increase
189 member countries. shared prosperity,