3. Work in pairs. Discuss the following questions.

1. What is the IMF?

2. What is the World Bank?

3. How do the IMF and the World Bank differ?

4. Who can become a member of the IMF and the World Bank?

5. Where do the IMF and the World Bank get money?

6. Who can borrow from the IMF and the World Bank?

7. Who makes decisions at the IMF and the World Bank?

8. What types of loans does the World Bank provide?

9. How can you characterize the impact of the IMF and the World Bank on the world’s economy?

4. Work in pairs. Ask questions summing up the main subject, key points, and supporting details presented in the text. Gather data to answer the questions. Organize your questions and answers in the form of a conversation.

5. Describe in your own words (1-3 sentences):

- the reasons for Bretton Woods conference;

- the outcomes of the Bretton Woods conference;

- the origins of the IMF;

- the differences between J.M.Keynes’ and H.D.White’s plans;

- the present-day objectives of the IMF;

- the IMF policies;

- the reasons for creation of the IBRD;

- the reasons why countries chose the Marshall Plan over the IBRD;

- the IBRD policies;

- the present-day World Bank and its operations;

- the IMF’s and the World Bank’s size and structure.

6. Summary writing

1. Read the text again and determine the main idea of each paragraph.

2. Underline the key words and collocations.

3. Put the main ideas into your own words. Try to use all the underlined words and collocations.

4. Organize the key points in the form of a plan.

5. Make a summary. Your summary should reflect the key points and the supporting details in a condensed form.

7. Write an essay on either of the choices below:

1. The merits and demerits of the IMF;

2. The similarities and differences between the IMF and the World Bank;

3. The role of the World Bank.