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The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression; Panic of 1847, started as a collapse of British financial markets associated with the end of the 1840s railway industry boom; Panic of 1857, a U.S. recession with bank failures; Indian economic crash of 1865
This research – which was published notably in the 1974 book Redistribution with growth – helped the Bank move to a more poverty-focused approach in the mid- and late 1970s. [4] Chenery's work was wide-ranging but might be summarised as involving the analysis of patterns of development, the use of a two-gap model and multi-sectoral analysis ...
World Bank Group's Franziska Ohnsorge joins Yahoo Finance Live to discuss inflation, recessionary risks, rising rates, and the outlook for the global economy.
Between 2004 and 2013, the World Bank committed to lend or give at least $338 billion, according to bank data. Its private-lending affiliate, the International Finance Corporation, committed to invest at least $116 billion during the same period in corporations and other banks in pursuit of the overall goal of alleviating poverty.
A bank run occurs when many bank customers withdraw their deposits because they believe the bank might fail. There have been many runs on individual banks throughout history; for example, some of the 2008–2009 bank failures in the United States were associated with bank runs.
A man-made disaster in eastern Brazil in the late 1970s helped prompt the World Bank to adopt its first systematic protections for people living in the footprint of big projects. Rising waters upstream from the Sobradinho Dam, built with World Bank financing, forced more than 60,000 people from their homes.