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Explore the important roles of the International Monetary Fund (IMF) and the World Bank in the global economy. While the differences between the two institutions occasionally blur, their basic missions are distinct: the World Bank finances large-scale development projects and offers interest-free loans and grants to poor countries, and the IMF seeks to ensure the stability of the world monetary system by providing temporary financing to countries with balance-of-payments deficits. How do these institutions influence today’s global economy? Are they helping to promote recovery from the global recession, and can they help achieve a more sustainable and equitable globalization?
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