The Full form of IFI
The Full Form of IFI is International Financial Institutions which are financial institutions that have been established by more than one country, which in turn subjects them to international law instead of the laws of their own country. The owners of the IFI are usually national governments, however, some international organizations may also be shareholders of the institution and thereby function as such. The biggest names that come to mind when thinking of an IFI are all co-created by multiple nations after the second world war to assist the economy, and have mechanisms in place for people to ensure international cooperation, and proper management of the global financial system.
As of today, the world’s largest International Financial Institution is the European Investment Bank which has a balance sheet of total 573 billion Euros in total. This has grown large enough to be comparable to the biggest components of the world bank which is another IFI. These are IBRD which stands at a total of 358 billion US dollars, and the IDA which stands at roughly 183 billion US dollars. To provide a comparison, you can note that several of the biggest commercial banks in the world have total assets of 2,000 to 3,000 billion US dollars.
There are various types of International Financial Institutions such as the Multilateral Development Banks, Bretton Woods Institutions, or the Regional Development Banks. These are all meant to help with the growth of the economy, especially in markets currently experiencing depression.
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