Question

Which one of the following is false.

• A. International Monetary Fund (IMF) is a money lending agency
• B. While granting money, it seeks economic reforms of the country seeking money
• C. All the members of IMF have equal rights
• D. The IMF has a fairly democratic functioning

Answer 1

The correct option is D The IMF has a fairly democratic functioning

International Monetary Fund (IMF) is one of the biggest moneylenders for any country in the world. Its 188 member states do not have equal voting rights. The vote of each country is weighed by how much money it has contributed to the IMF.More than 52% of the voting power in the IMF is in the hands of only ten countries (US, Japan, Germany, France, UK, China, Italy, Saudi Arabia, Canada and Russia).