BCRA Competitors

The World Bank is a vital source of financial and technical assistance to developing countries around the world. Our vision is to create a world free of poverty on a livable planet. We are not a bank in the common sense; we are made up of two unique development institutions owned by 189 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Each institution plays a different but collaborative role in advancing the vision of inclusive and sustainable globalization. The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on the world's poorest countries. Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID). Together, we provide low-interest loans, interest-free credits and grants to developing countries for a wide array of purposes that include investments in education, health, public administration, infrastructure, financial and private sector development, agriculture and environmental and natural resource management.

The Federal Reserve System is the Central Bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded. Today the Federal Reserve's duties fall into four general areas: Conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices and moderate long-term interest rates. Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers. Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets. Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system.

The International Monetary Fund has a key position in promoting the health of the world economy. Established in 1944 as a part of the United Nations system, the IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to buy goods and services from each other. This is essential for sustainable economic growth and rising living standards. To maintain stability and prevent crises in the international monetary system, the IMF conducts surveillance of national, regional, and global economic and financial developments. It provides advice to its 190 member countries, encouraging them to adopt policies that foster economic stability, reduce their vulnerability to economic and financial crises, and raise living standards. The IMF also serves as a forum where its global membership can discuss the national, regional, and global consequences of their policies. The IMF makes financing temporarily available to member countries to help them address balance of payments problems—that is, when they find themselves short of foreign exchange to meet their payments to other countries. Finally, the IMF provides countries with training to help them build the expertise and institutions they need for economic stability and growth. Supporting all of these activities is the institution's work in economic research and statistics.