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IMF-World Bank Harmony:
Bretton Woods institutions work in tandem. World Bank BOP support is not available with a Fund Programme, while a Fund Programme cannot be finalised without the prior negotiation of BOP support from the World Bank and from bilateral donors to fill the programmed resources gap. The bilateral donors do not commit funds until negotiations with the World Bank have been concluded. Whereas the IMF sets the macro-economic guidelines and targets of a programme, the World Bank imposed a list of neo-liberal macro-economic policy reforms on the borrowing country.
International Monetary Fund: International Monetary Fund (IMF) is one of the two institutions that were established as a result of the Brettonwoods Conference in 1944, the oth
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THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
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