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Which among the following is referred to as the ‘Bretton Woods twins’?
[2010 (T-1)]
- a)The IMF and the World Bank
- b)The IMF and the WTO
- c)The World Bank and the WTO
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which among the following is referred to as the Bretton Woods twins?[2...
The Bretton Woods Twins
The term "Bretton Woods twins" refers to two international financial institutions that were established at the Bretton Woods Conference in 1944. These institutions are:
1. The International Monetary Fund (IMF) - The IMF is an international organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Its main functions include providing financial assistance to member countries facing balance of payments problems, monitoring global economic developments, and providing policy advice to member countries.
2. The World Bank - The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for development projects. It aims to reduce poverty and support sustainable economic development by financing infrastructure projects, social programs, and capacity-building initiatives. The World Bank consists of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
Therefore, the correct answer is option A: The IMF and the World Bank.
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The term "Bretton Woods twins" refers to two international financial institutions that were established at the Bretton Woods Conference in 1944. These institutions are:
1. The International Monetary Fund (IMF) - The IMF is an international organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Its main functions include providing financial assistance to member countries facing balance of payments problems, monitoring global economic developments, and providing policy advice to member countries.
2. The World Bank - The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for development projects. It aims to reduce poverty and support sustainable economic development by financing infrastructure projects, social programs, and capacity-building initiatives. The World Bank consists of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
Therefore, the correct answer is option A: The IMF and the World Bank.
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Which among the following is referred to as the Bretton Woods twins?[2010 (T-1)]a)The IMF and the World Bankb)The IMF and the WTOc)The World Bank and the WTOd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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