2 Pages

The Joint Bank-Fund Library World Bank and International Monetary Fund

The Joint Library of the World Bank and the International Mone­ tary Fund (Joint Bank-Fund Library) serves the staff of four distinct but closely related organizations in the international community. The first three are known collectively as the World Bank Group. They are: the International Bank for Reconstruction and Develop­ ment; the International Development Association; and the Interna­ tional Finance Corporation. The fourth organization, which houses and administers the Joint Bank-Fund Library, is the International Monetary Fund. Both the World Bank and the International Monetary Fund were

founded in 1944 at the United Nations Monetary and Financial Con­ ference held at Bretton Woods, New Hampshire. The International Monetary Fund is concerned primarily with international financial cooperation and, the World Bank with economic development. The International Monetary Fund, which is today made up of 146

member nations, is a specialized agency within the United Nations system. Its principal mission is to assure orderly financial exchange transactions among nations. Toward this end, the Fund maintains a pool of financial resources contributed by its members. These re­ sources are made available on a temporary basis to member coun­ tries experiencing difficulties with their balance of payments. The Fund also assists member nations in a variety of other ways to im­ prove financial planning and to solve economic problems. Having responsibility for issues of international liquidity, the Fund also works to develop policies and strategies by which its members can promote a stable world financial system.