Question
how are the international monetary fund and the world bank related?
the world bank and international monetary fund do not have similar goals and do not work together
the international monetary fund works directly with individual countries while the world bank works with blocks of countries
the international monetary fund works with underdeveloped countries while the world bank works with wealthier nations, providing international organizations for all countries to use
the world bank and international monetary fund both strive to help provide economic stability to countries in need
the world bank and international monetary fund do not have similar goals and do not work together
the international monetary fund works directly with individual countries while the world bank works with blocks of countries
the international monetary fund works with underdeveloped countries while the world bank works with wealthier nations, providing international organizations for all countries to use
the world bank and international monetary fund both strive to help provide economic stability to countries in need
Answers
GPT-4o mini
The correct statement about the relationship between the International Monetary Fund (IMF) and the World Bank is:
**The World Bank and International Monetary Fund both strive to help provide economic stability to countries in need.**
### Explanation:
- **IMF** focuses primarily on ensuring global financial stability and provides short-term financial assistance and advice to countries facing balance of payments problems. It typically works with governments to stabilize their economies.
- **World Bank**, on the other hand, focuses on long-term economic development and poverty reduction by providing financial and technical assistance for development projects (like infrastructure, education, health) in developing countries.
While their goals and operations differ, both institutions aim to foster economic stability and development on a global scale and often collaborate to address economic challenges in various countries.
**The World Bank and International Monetary Fund both strive to help provide economic stability to countries in need.**
### Explanation:
- **IMF** focuses primarily on ensuring global financial stability and provides short-term financial assistance and advice to countries facing balance of payments problems. It typically works with governments to stabilize their economies.
- **World Bank**, on the other hand, focuses on long-term economic development and poverty reduction by providing financial and technical assistance for development projects (like infrastructure, education, health) in developing countries.
While their goals and operations differ, both institutions aim to foster economic stability and development on a global scale and often collaborate to address economic challenges in various countries.