that collective group resources are not to serve individual purposes. Gender roles and obligations, familial relations, lineage, and household organization all play a part in the functioning of traditional society. It would then appear difficult to formulate effective economic reform policies by considering only the formal sector of society and the economy, leaving out more traditional societies and ways of life. IMF SAPs versus World Bank SAPs While both the International Monetary Fund (IMF) and World Bank loan to depressed and developing countries, their loans are intended to address different problems. The IMF mainly lends to countries that have balance of payment problems (they cannot pay their international debts), while the World Bank offers loans to fund particular development projects. However, the World Bank also provides balance of payments support, usually through adjustment packages jointly negotiated with the IMF. IMF SAPs IMF loans focus on temporarily fixing problems that countries face as a whole. Traditionally IMF loans were meant to be repaid in a short duration between 2½ and 4 years. Today, there are a few longer term options available, which go up to 7 years, as well as options that lend to countries in times of crises such as natural disasters or conflicts. Donor countries The IMF is supported solely by its member states, while the World Bank funds its loans with a mix of member contributions and corporate bonds. Currently there are 185 Members of the IMF (As Of February 2007) and 184 members of the World Bank. Members are assigned a quota to be reevaluated and paid on a rotating schedule. The assessed quota is based upon the donor country's portion of the world economy. One of the critiques of SAPs is that the highest donating countries hold too much influence over which countries receive the loans and the SAPs that accompany them. However, the largest donor only holds 18% of the votes. Some of the largest donors are: United Kingdom United States (18%) Japan Canada (2%) Germany France See also Balcerowicz Plan Bretton Woods system Debt Debt of developing countries Debt-trap diplomacy IMF Stand-By Arrangement International Monetary Fund Latin American debt crisis Neoliberalism Washington Consensus World Bank References Bibliography External links IMF Factsheet on Conditionality Development economics International Monetary Fund World Bank Neoliberalism Loans Welfare economics