IMF, World Bank plot out aid strategy for poor countries

The International Monetary Fund and the World Bank will be forming a joint strategy to help the world’s impoverished states and to create a better distinction between the two organization’s roles. According to IMF first deputy managing director John Lipsky, the fund’s role in helping poor countries will be concretized in a Joint Bank-Fund Management Action Plan, which will be revealed before the two institutions’ yearly meetings next month. “This plan is intended to help insure that the efforts of these key institutions remain well-coordinated and consistent, while leveraging each institution’s resources effectively,” Lipsky said. The IMF and the World Bank meetings are set for October 20-22 in Washington. (Source: IMF, World Bank to unveil joint strategy for poor countries/The Economic Times)

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