International financial institutions

Definition

International Financial Institutions are organizations that provide financial support and advice for economic development activities on a global or regional scale. They play a crucial role in stabilizing the global economy by offering resources for developmental projects, policy advice, and financial assistance to member countries.

Related terms

Bretton Woods Institutions: These include the World Bank and the International Monetary Fund (IMF), established to help rebuild and stabilize the global economy after World War II.

World Bank:

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

International Monetary Fund (IMF):

An international organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment, sustainable economic growth, and reduce poverty around the world