The World Bank and the IMF (International Monetary Fund) were created in 1944 by the leaders of the 44 nations at
a conference in Bretton Woods, New Hampshire. Unlike the UN, the World Bank and IMF were controlled by
?one-dollar-one vote?, than ?one-country, one vote? system of governance. This led to the US and the developed
countries having the most influence and control.
The so-called G7 collectively have almost half the votes of both organisations and the US alone has a veto over
decisions regarding the mandates and structure of the organisations.
critically evaluate and examine the effectiveness of the IMF/World Bank financial support to developing countries
over the last thirty years.
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