Does the work of the International Monetary Fund and World Bank overlap?
Less developed countries turn to the:
• International Monetary Fund to resolve debt repayment, exchange rate and Balance of payments crisis that is the IMF gives short-term assistance for countries into financial crisis.
• World Bank to resource growth by loans that is the World Bank gives long term to help countries develop and progress
Gradually more the work of the IMF and WB is focussing upon long term over lapping matters. In a sense, long term International Monetary Fund loans for SAPs duplicate the work of the World Bank. For this purpose the World Bank and IMF work jointly onto:
• Structural Adjustment Programmes/Poverty Reduction Strategies (SAPs)/(PRS)
• HIPC (Heavily Indebted Poor Country) Initiative.