Case study -The World Bank

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World Bank:

The World Bank is one of the Breton's financial institutions that were created in 1944 with the objective of eradicating poverty in the developing countries. The World Bank began its operation from 1967 after leaders of a number of countries attended the Bretton Woods Conference that was held in the Washington D.C. The conference was headed by the Americans and the majority of those who attended the meeting were the United States and the United Kingdoms. The original institution that led to the formation is the World Bank and other financial institutions, is the International Bank for Reconstruction and Development (IBRD). The other financial institution that was developed during this conference is the International Monetary Fund (IMF), International Finance Corporation (IFC) and the International Finance Corporation (IFC) (Background to, 2005).

The main issues of the Bretton Woods Conference that led to the formation of the World Bank were the deterioration of the economic systems in the countries across the international borders and also the increase of citizens living below the poverty line within the countries globally. The other issue that the Bretton Woods Conference aimed at was to facilitate and regulate the international monetary systems globally. This was to ensure that the exchange of currency across the countries was maintained stabilized and also to manage the imbalances of payments that are stipulated during the sale and purchase of goods and services across the countries globally.

In addition to this, the World Bank was aimed to help the European countries to rebuild its economy after the end of the Second World War. This was significant to the global economy of the world since the war had destabilized a large number of the countries. This World Bank was aimed to finance the countries so as to quickly restore the economic activities. The World Bank was also aimed to help the countries to reconstruct the territories and also to define their economic boundaries. In addition to this the aim of the Word Bank was to enhance development across the countries through sharing of resources, information and encouraging partnership in the private and public sectors (How does, 2005).

The leaders that attended the Bretton Woods Conference developed the International Monetary Funds and the World Bank so as to address the issues that were stipulated. The main objective of the World Bank was to contribute in the formulation and development of ...