International Economic Organizations: World Bank, IMF & More – JAIIB Paper 1 Module A Guide

Understanding international economic organizations is essential for JAIIB Paper 1 Module A. These institutions play a crucial role in global economic governance and development.

World Bank Group

The World Bank Group consists of five institutions working towards reducing poverty and promoting shared prosperity.

Key Institutions:

1. IBRD – International Bank for Reconstruction and Development
2. IDA – International Development Association
3. IFC – International Finance Corporation
4. MIGA – Multilateral Investment Guarantee Agency
5. ICSID – International Centre for Settlement of Investment Disputes

International Monetary Fund (IMF)

IMF promotes international monetary cooperation and financial stability. It provides loans to member countries facing balance of payment problems.

Key Functions:

• Surveillance of global economy
• Financial assistance to members
• Technical assistance and training
• Promoting exchange rate stability

Other Important Organizations:

1. Asian Development Bank (ADB) – Focuses on Asia-Pacific development
2. WTO – World Trade Organization – Regulates international trade
3. BRICS – Brazil, Russia, India, China, South Africa cooperation