Question

Write a note on the international monetary fund.

Answer 1

Instructions:

• Meaning of IMF.
• Member countries.
• Voting power of the member countries.

Solution:

International monetary fund or IMF aims to promote the International Monetary Corporation. Around 188 countries are members of this corporation. However, all members do not have equal right to vote.

Each country's vote depends on how much money they contribute to the International Monetary Fund. This practice creates an unequal distribution of power as 52% of vote power is retained in the hands of only ten countries.