Question One: Paying particular attention to the World Bank and the IMF, explain the context in which they evolved and their respective roles in regulating the international economy.
             The International Monetary Fund, also known as the IMF was conceived at the United Nations (UN) conference in Bretton Woods, New Hampshire , U.S, in July 1944. The forty five governments represented at that conference sought to build a framework for the economic cooperation that would avoid a repetition of the disastrous economic policies that had contributed to the Great Depression of the 1930s. Headquartered in Washington DC, it is governed by and accountable to the governments of the 184 member countries. Article I of the Articles of Agreement sets out the IMF's main responsibilities:
             • promoting international monetary cooperation;
             • facilitating the expansion and balanced growth of international trade;
             • assisting in the establishment of a multilateral system of payments ; and
             • making its resources available (under adequate safeguards) to members experiencing balance of payments difficulties.
             More generally, the IMF is responsible for ensuring the stability of the international monetary and financial system, the system of international payments and exchange rates among national currencies that enables trade to take place between countries. The Fund seek to promote economic stability and prevent crises; to help resolve crises when they do occur; and to promote growth and alleviate poverty. It employs three main functions, surveillance, technical assistance, and lending.
             Surveillance is the regular dialogue and policy advice that the IMF offers to each of its members. Generally once a year, the Fund conducts in-depth appraisals of each member country's economic situation. It discusses with the country's authorities the policies that are most conducive to stable exchange rates and a growing and prosperous economy. The IMF also com...