Emergency Management

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Submitted By thamb
Words 1103
Pages 5
The World Bank and the International Monetary Fund's
Role in Disaster Relief
Thomas Hamblin
Southern New Hampshire University

Abstract
The devastation caused by natural and technological disasters is measured not only by the numbers of people killed or the severity of the damages to property and critical infrastructure, but also by the economic and financial losses incurred by the citizens and the governments of affected countries. In times of crisis, it is imperative that affected countries are given assistance in an expeditious and efficient manner. Along with its sister organization the World Bank, the International Monetary Fund (IMF) provides emergency assistance to help countries with "urgent balance of payments financing needs in the wake of natural disasters or armed conflict" (International Monetary Fund Factsheet, 2011, p.1). This emergency financial assistance is designed to be distributed rapidly to aid countries who may potentially exhaust their monetary reserves in the aftermath of a natural or technological disaster. This paper will examine why it is important for financial institutions like the IMF and the World Bank to be involved in disaster management. In addition, some of the ways which these financial institutions distribute aid to countries affected by disaster will also be identified. Keywords: World Bank, International Monetary Fund (IMF), disaster management.

The World Bank and the International Monetary Fund's
Role in Disaster Relief The IMF and its sister organization, the World Bank, were born at the end of World War II. These powerful financial institutions were created out of a need to prevent economic crises like the Great Depression and to help rebuild Europe from the devastation resulting from years of conflict. The IMF is the largest public lender of funds in the world. It is a specialized agency of the United…...

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