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How does the World Bank classify countries?

The World Bank classifies countries using two categories: low-income countries and middle-income countries. Low-income countries are defined as those with a Gross National Income (GNI) of US$1,045 or less in 2017, while middle-income countries have a GNI between US$1,046 and US$12,535 in 2017. The World Bank also classifies countries according to their level of development, such as low human development, medium human development and high human development. Finally, the World Bank also uses the International Development Assistance (IDA) criteria to classify countries as IDA eligible or IDA ineligible. These criteria are based on economic and social indicators such as GNI, poverty, health and education.

Mar, 11 2023
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How do the IMF and World Bank work together?

The International Monetary Fund (IMF) and the World Bank are two of the most powerful international organizations dedicated to promoting economic growth and stability. They both provide financial and technical assistance to countries in need. The IMF works to ensure that countries have stable economies and are able to manage their debt. The World Bank provides loans and grants to developing countries to help them improve their economies and reduce poverty. The two organizations work together to provide assistance to countries in need and to promote global economic development. Through their combined efforts, the IMF and World Bank are able to help countries create a more stable and prosperous future.

Mar, 7 2023
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