Which statement is true for IMF?

It is not an agency of UNO

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It can grant loan to any country of the world

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It can grant loan to State Government of a country

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It grants loan only to member nations

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Solution

The correct option is C It grants loan only to member nations
IMF loans are meant to help member countries tackle balance of payments problems, stabilize their economies, and restore sustainable economic growth. The IMF is not a development bank and, unlike the World Bank and other development agencies, it does not finance projects.

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