The IMF began as an organization whose purpose was to encourage international trade and discourage protectionism while assisting in the "correction of balance payments disequilibria" for those countries who required short-term assistance (World Bank, 7). The World Bank's sister organization, the IMF, attempts to promote economic growth in certain countries through loans granted for specific development projects. Membership in the World Bank requires membership in the IMF. Recently the two organizations... [continues]
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