Q. Which of the following institution has the core responsibility to provide loans to member countries experiencing actual or potential balance of payments problems?

[A] IMF

[B] ADB

[C] World Bank

[D] UNDP

Answer: A
Notes:

Explanation: IMF was conceived at a UN conference in Bretton Woods in July 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s.

  • With the membership of 189 countries, the Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.
  • A core responsibility of the IMF is to provide loans to member countries experiencing actual or potential balance of payments problems.

Source: FORUMIAS

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