The Wholistic View

  | Image:   VOA News| There is no question that the International Monetary Fund (IMF) and World Bank continue to be amongst the most relevant and significant powerful norm-setters, convenors, knowledge-holders and influencers of the international development and financial landscape. The IMF and the World Bank are closely linked – so close that their headquarters are across the street in Washington DC, USA. So what’s the difference between the two?| The Wholistic View Explains ( 5 Min Read )| Founded in 1944 by Delegates of 44 nations in Bretton Woods, New Hampshire, U.S.A., with a general consensus that the old system of exchange rates and payments had failed, leading to the Great Depression, currency devaluations and the collapse of the gold standard. the World Bank Group (WBG, or Bank) and the International Monetary Fund (IMF, or Fund) are twin intergovernmental institutions that are influential in shaping the structure of the world’s development and financial order. T...

You know the US Dollar($) is the official currency of the United States and its territories, but, some other countries use it as their official currency too. In fact, the US Dollar($) is known as the world's reserve currency. So How Exactly did it become so powerful??| The Wholistic View Explains!! (5 Minute Read) | More than $1.8 trillion of U.S. Currency is now in circulation around the world, and its believed that two-thirds of $100 bills and nearly half of $50 bills are held outside the U.S. In Fact, the US Dollar($) is the de facto global currency, meaning it is kept by many governments in reserves, thus, most people and companies trust it for international trade. Even, as the Coronavirus Pandemic wreaked havoc across global markets, wiping out trillions of dollars' worth of assets, the U.S. Dollar($) was unaffected by the turmoil. At one point, it soared 4% against a basket of major currencies, namely the Euro, Pound, Yen, Canadian dollar, Swiss Franc and Swedish Krona. S...