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?
[amp_mcq option1=”IFC” option2=”IDA” option3=”IMF” option4=”IBRD” correct=”option3″]
This question was previously asked in
UPSC CBI DSP LDCE – 2023
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.