Explain how World Bank and IMF are different from each other and how they work in close coordination?

Explain how World Bank and IMF are different from each other and how they work in close coordination?

Ans.

They work in close coordination because: 

World Bank BOP support is not available with a fund programme. A fund programme can't be finalized without prior approval of IMF. 

Moreover, bilateral donors do not finalize the funds until it has been approved by IMF. 

Above all, IMF sets the macro economic guidelines while targets of a programme while the World Bank imposes a list of neo liberal macro economic policy reforms on the borrowing country.