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With reference to International Monetary Fund (IMF), consider the following statements:
1. The International Monetary Fund (IMF) is one of the biggest moneylenders for any country in the world.
2. Its member states have equal voting rights.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
With reference to International Monetary Fund (IMF), consider the fol...
  • The International Monetary Fund (IMF) is one of the biggest moneylenders for any country in the world.
  • Its 189 member states (as on 12 April 2016) 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 40% of the voting power in the IMF is in the hands of only seven countries (US, Japan, Germany, France, UK, Italy and Canada). The remaining 182 countries have very little say in how these international organisations take Decisions.
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With reference to International Monetary Fund (IMF), consider the following statements:1. The International Monetary Fund (IMF) is one of the biggest moneylenders for any country in the world.2. Its member states have equal voting rights.Which of the statements given above is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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