Which of the following statements is true about International Monetary Fund (IMF)?

It provides Ways and Means Funds to member countries.

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It is an agency of the World Bank and is situated in Prague.

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It makes all the rules and regulations in relation to the World Trade between the nations.

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On becoming its member, countries get finance as temporary balance-of-payment needs.

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Solution

The correct option is A On becoming its member, countries get finance as temporary balance-of-payment needs.
IMF stands for International Monetary Fund. It is true that on becoming its member, countries get finance as temporary balance-of-payment needs. IMF works to ensure global market cooperation and financial stability of the global economyy.

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Similar questions

Q24. Consider the following statements about Credit Crunch:

1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses.

2. An economic crisis where countries are not able to get funding from World Bank.

3. It also known as credit squeeze.

Which of the above statements are correct?

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