Poverty Reduction Strategies by the World Bank and IMF

Topic

Poverty reduction strategies by the World Bank and International Monetary Fund

Instructions

In 2000 words, critically assess the poverty reduction strategies adopted by the International Monetary Fund and the World Bank, with particular emphasis on the conditionality that has been imposed on underdeveloped economies. Have these strategies been successful?

Answer preview

The World Bank and the International Monetary Fund are United State-based institutions with a common goal of improving the living standards of member countries. Individual approaches to achieve better living standards are complementary as the World Bank focusses on poverty reduction and long-term economic development, and IMF dealing with macroeconomic issues (IMF, 2016). Upon the creation of the two institutions in Bretton Woods’ convention, a framework for cooperation and economic development was created with an intention of ensuring a prosperous and stable economy across the globe.   The framework included poverty reduction strategies in undeveloped and developing economies.

Word count: 2338