The International Monetary Fund and World Bank

The International Monetary Fund (IMF) has been regularly topping the financial news for a number of years given its central role in trying to deal with the economic fall-out from the financial crash of 2007–2008. The IMF works independently and in European countries, in cooperation with European institutions such as the European Commission and the European Central Bank. The IMF itself acknowledged that its actions had made a bad situation considerably worse in the case of Argentina, deepening a recession and sparking political chaos throughout the country in 2001. Each organisation helps the World Bank in its mission of global poverty reduction and the improvement of living standards. China&s;s growing confidence in playing a role on the global economic stage was exemplified by its involvement in the establishment of the Asian Infrastructure Investment Bank in April 2015.