Who does what in the world economy?

CNN has an article which I'm copying here in its entirety that explains who does what on the world economic stage. Read between the lines, especially when describing the IMF and the World Bank.

SOURCE: CNN Date: Sat 10/11/2008

(CNN) -- Organizations that have a role in the global financial system:

IMF Managing Director Dominique Strauss-Kahn speaks Saturday in Washington on efforts to heal the economy.

Bank for International Settlements: The BIS is an organization of central banks that serves as a central bank for those institutions, focusing on monetary and financial cooperation.
 
Federal Deposit Insurance Corp.: The FDIC is a U.S. government corporation that insures deposits at member banks.
 
Group of Seven: The G-7 is the meeting of the finance ministers of seven industrialized nations: Canada, France, Germany, Italy, Japan, United Kingdom and the United States.
 
Group of Eight: The G-8 is the annual meeting of the heads of state of the G-7 nations plus Russia.

International Monetary Fund: The IMF manages the world's financial systems, primarily by implementing the policies of its 185 member-countries, in particular exchange rates between countries and how payments flow between countries.
 
Securities and Exchange Commission: The SEC is an independent agency of the U.S. government tasked with enforcing laws relating to securities and regulating the securities industry and stock exchanges.

World Bank: The World Bank provides financial and technical assistance to developing countries, with an emphasis on reducing poverty. Its programs are carried out by two development institutions -- the International Bank for Reconstruction and Development and the International Development Association -- which are owned by the bank's 185 member-countries.

World Trade Organization: The WTO settles trade disputes and negotiates international trade agreements.

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