Which one of the following international organizations considers its c

Which one of the following international organizations considers its core responsibility as providing financial help to member countries which are experiencing balance of payments problems?

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IFC

IDA

IMF

IBRD

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UPSC CBI DSP LDCE – 2023

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The correct option is C) IMF. The International Monetary Fund (IMF) is a global organization whose primary mission is to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. A core responsibility of the IMF is to provide financial assistance to member countries experiencing balance of payments problems to help them stabilize their economies and restore sustainable growth.

– IMF provides financial help for balance of payments problems.
– IFC supports private sector development.
– IDA provides concessional financing to the poorest countries.
– IBRD provides loans to middle-income and creditworthy poorer countries.

IFC, IDA, and IBRD are all part of the World Bank Group, which focuses more on long-term economic development and poverty reduction projects. The IMF focuses on the stability of the international monetary system and short-to-medium-term balance of payments support.

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