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prior to World War 2, the world had been colonised by European countries. Europe then controlled about 85% of the worlds land surface. after ww2, their economies and infrastructure were decimated and so they withdrew from nearly all of their colonies and granted them independence in what was called 'decolonisation'. the only problem was that these former colonies didn't have any of the means to support their own development because during their years under colonial rule they were exploited for their natural resources and hadn't developed their own industries. this meant that these countries just kept getting poorer and poorer. the world bank and imf were est after ww2 to give these countries the money they needed for their own development.

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โˆ™ 2011-09-13 17:02:06
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Q: Why were the IMF and the World Bank established after World War 2?
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