ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All member countries of the IMF are not sovereign states
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Nauru is the latest member of the IMF
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All “member countries” of the IMF are members of the United Nations
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Currently its membership is 189
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Detailed explanation-1: -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-2: -Which of the following statements is correct? Explanation: Every member country of the IMF automatically becomes a member of the World Bank. In the same way, any member country which quits the IMF is automatically expelled from the membership of the World Bank. 3.
Detailed explanation-3: -IMF works to ensure global market cooperation and financial stability of the global economyy.
Detailed explanation-4: -To promote international monetary cooperation is not an objective of IMF.
Detailed explanation-5: -Apart from Cuba, the other UN states that do not belong to the IMF are Liechtenstein, Monaco and North Korea. However, Andorra became the 190th member on 16 October 2020.