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SAI INTERNATIONAL SCHOOL
CLASSS XI
SUBJECT: BUSINESS STUDIES
Chapter-10, International Trade
Topics: World Bank, International monetary fund, World trade
organizations
(LESSON NOTES-53)
World Bank
World Bank The International Bank for Reconstruction and Development
(IBRD), commonly known as World Bank, was result of the Bretton Woods
Conference. The main objectives behind setting up this international
organization were to aid the task of reconstruction of the war -affected
economies of Europe and assist in the development of the underdeveloped
nations of the world. For the first few years, the World Bank remained
preoccupied with the task of restoring war-torn nations in Europe.
International Monetary Fund.
The International Monetary Fund (IMF) is the second international organization
next to the World Bank. IMF which came into existence in 1945 has its
headquarters located in Washington DC. In 2005, it had 191 countries as its
members.
The major idea underlying the setting up of the IMF is to evolve an orderly
international monetary system, i.e., facilitating system of international
payments and adjustments in exchange rates among national currencies.
Major objectives of IMF include
• To promote international monetary cooperation through a permanent
institution,
