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Public Disclosure AuthorizedThe World BankGhana OfficeINTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATIONIndependence Avenue King Hassan Street, #3 Accra, GhanaTel:
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The International Monetary Fund (IMF) is an organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The World Bank, on the other hand, is a group of five international organizations that provide financial and technical assistance to developing countries for development programs (e.g., bridges, roads, schools) that are expected to improve the economic prospects and quality of life for people in those countries.
Entities involved in international transactions or those that meet specific reporting thresholds, such as corporations or financial institutions that conduct business connected to foreign entities, are generally required to file reports with the IMF and the World Bank.
To fill out IMF and World Bank reports, organizations typically need to gather financial information related to international transactions, assets, liabilities, and any relevant economic data. They must use the prescribed forms provided by the respective institutions and follow the instructions given for accurate submission.
The purpose of the IMF is to ensure the stability of the international monetary system, to facilitate balanced growth of international trade, and to provide financial assistance to countries in need. The World Bank aims to reduce poverty by providing financial and technical support for development projects aimed at building infrastructure, improving education, and fostering economic development.
Required information typically includes details on international transactions, cross-border investments, assets and liabilities, economic performance data, and financial statements relevant to the entities' foreign dealings.
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