Question

Which of the following statements about International Monetary Fund (IMF) are correct?
1. The IMF is a United Nations specialised agency.
2. The IMF was founded at the Bretton Woods conference in 1944 to secure international monetary cooperation.
3. Chinese Yuan is included in SDR Basket.
Select the correct answer using the codes given below.

• A. 1, 2 and 3
• B. 2 and 3
• C. 1 and 2
• D. 1 and 3

Answer 1

The correct option is A 1, 2 and 3

The International Monetary Fund (IMF) is an international organization created for the purpose of standardizing global financial relations and exchange rates. Image result for The IMF is a United Nations specialised agency.

International Monetary Fund (IMF) is part of the United Nations system and has a formal relationship agreement with the UN, but retains its independence. The IMF generally monitors the global economy, and its core goal is to economically strengthen its member countries. Specifically, the IMF was created with the intention of :

1. Promoting global monetary and exchange stability.

2. Facilitating the expansion and balanced growth of international trade.

3. Assisting in the establishment of a multilateral system of payments for current transactions.

It was formed in 1944 at the Bretton Woods Conference. Chinese Yuan was recently included in the SDR basket of IMF.