Both the International Monetary Fund and the World Bank are global institutions that arose within a specific historical context (The Bretton Woods Conference - yay NH!) and that embody and proliferate a particular economic philosophy (neoliberalism). These institutions have come under criticism lately for a variety of reasons. Please check out the link below to verse yourself in some of this criticism. Especially check out Joseph Stiglitz.
SHORT OVERVIEW OF THE IMF AND WORLD BANK