BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It provides ways and means funds to member countries.
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It is an agency of the World Bank and is situated in Prague.
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It makes all the rules and regulations in relation to the world trade between the nations.
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On becoming its member, countries get finance as temporary balance of payment needs.
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Detailed explanation-1: -It is true that on becoming its member, countries get finance as temporary balance-of-payment needs. IMF works to ensure global market cooperation and financial stability of the global economyy.
Detailed explanation-2: -3. Which of the following statement is NOT correct regarding the membership of the IMF? Explanation: All member countries of the IMF are not sovereign states therefore all “member countries” of the IMF are not members of the United Nations.
Detailed explanation-3: -The IMF works to achieve sustainable growth and prosperity for all of its 190 member countries. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.
Detailed explanation-4: -The IMF has three critical missions: furthering international monetary cooperation, encouraging the expansion of trade and economic growth, and discouraging policies that would harm prosperity.
Detailed explanation-5: -The IMF’s primary objective is the overall promotion of world trade. The IMF meets its primary objective by overseeing the balance of payments, acting as a forum of world negotiation, and regulating world exchange rates.