Difference between IMF and World Bank

The difference between IMF and WB

The International Monetary Fund and the World Bank at a Glance

International Monetary Fund oversees the international monetary system promotes exchange stability and orderly exchange relations among its member countries assists all members--both industrial and developing countries--that find themselves in temporary balance of payments difficulties by providing short- to medium-term credits supplements the currency reserves of its members through the allocation of SDRs (special drawing rights); to date SDR 21.4 billion has been issued to member countries in proportion to their quotas draws its financial resources principally from the quota subscriptions of its member countries has at its disposal fully paid-in quotas now totaling SDR 145 billion (about $215 billion) has a staff of 2,300 drawn from 182 member countries

World Bank seeks to promote the economic development of the world's poorer countries assists developing countries through long-term financing of development projects and programs provides to the poorest developing countries whose per capita GNP is less than $865 a year special financial assistance through the International Development Association (IDA) encourages private enterprises in developing countries through its affiliate, the International Finance Corporation (IFC) acquires most of its financial resources by borrowing on the international bond market has an authorized capital of $184 billion, of which members pay in about 10 percent has a staff of 7,000 drawn from 180 member countries