Answer to Question 1
Answer: The World Bank Group is a group of five closely associated institutions, all owned by its member countries, that provides vital financial and technical assistance to developing countries around the world. The goal of the World Bank Group is to promote long-term economic development and poverty reduction by providing members with technical and financial support. For instance, during the recent global recession, financial commitments by the World Bank Group reached 100 billion as it helped nations respond to and recover from the economic downturn.
Answer to Question 2
Answer: The IMF is an organization of 188 countries that promotes international monetary cooperation and provides member countries with policy advice, temporary loans, and technical assistance to establish and maintain financial stability and to strengthen economies. The IMF offers advice to countries and governments to get them through difficulties.
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