BANKING AFFAIRS

Detailed explanation-1: -Mexico joined the International Monetary Fund (IMF) on December 31, 1945, a year after the inception of the IMF in 1994. As of 2022, Mexico has 11816.7 million Special Drawing Rights(SDR’s, ) and a SDR quota of 8912.7 Million.

Detailed explanation-2: -B… Argentina is the biggest debtor to the IMF, with a total outstanding debt of $42.2bn. The country has had a long and troubled relationship with the IMF, with a history of equally spectacular fall-outs and bail-outs. At the turn of the century, the IMF made $88.3bn available to bail out the country’s ailing economy.

Detailed explanation-3: -The correct answer is It grants loans to only member countries.

Detailed explanation-4: -The IMF’s current total resources of about SDR 977 billion translate into a capacity for lending of about SDR 713 billion (around US$1 trillion).