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  • ICAR and TNAU E-Course Summarized

    Summarized Notes
  • The Headquarters of IMF and World Bank are located at

    Question: The Headquarters of IMF and World Bank are located at

    Options:

    Geneva and Montreal
    Geneva & Vienna
    New York & Geneva
    Washington

    🔑Key Points:
    The Headquarters of IMF and World Bank are located in Washington.
    The IMF is small (about 2,300 staff members) and, unlike the World Bank, has no affiliates or subsidiaries.
    Most of its staff members work at headquarters in Washington, D.C., although three small offices are maintained in Paris, Geneva, and at the United Nations in New York.
    Its professional staff members are for the most part economists and financial experts.
    The World Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order. 
    The Bank is primarily a development institution;
    The IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations.
    Each has a different purpose, a distinct structure, receives its funding from different sources, assists different categories of members, and strives to achieve distinct goals through methods peculiar to itself.
    Hence, option 4 is correct. 

    🔴Additional Information:

    • International Monetary Fund (IMF) :
    The International Monetary Fund (IMF) is an organization of 189 member countries, each of which has representation on the IMF's executive board in proportion to its financial importance.
    The IMF, also known as the Fund, was conceived at a UN conference in Bretton Woods, New Hampshire, United States, in July 1944.

    • The World Bank :

    • The World Bank Group is a unique global partnership:
    five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
    The Bank Group works with country governments, the private sector, civil society organizations, regional development banks, think tanks, and other international institutions on issues ranging from climate change, conflict, and food security to education, agriculture, finance, and trade.

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