gs1medium

Regarding the International Monetary Fund, which one of the following statements is correct?

  1. A.It can grant loans to any country
  2. B.It can grant loans to only developed countries
  3. C.It grants loans to only member countries
  4. D.None of these
▶ Answer & Explanation

Correct answer: C. It grants loans to only member countries

The International Monetary Fund (IMF) provides financial assistance and policy advice to its member countries facing balance of payments problems. Eligibility for IMF loans is contingent upon a country's membership status and its agreement to implement specified economic reforms. Non-member countries are not eligible for such financial support.

Source: UPSC gs1 2011

Practice this question with answer tracking

Track your performance, build spaced repetition reviews, and see your weak areas.

Start practising free →