ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following statements is not correct?
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Both the IMF & IBRD have headquarters in Washington
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India’s vote share in the International Monetary Fund is 10%
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IBRD is known as World Bank also
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Both IMF & World Bank are the known as the Bretton Woods twins.
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Explanation:
Detailed explanation-1: -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-2: -IMF works to ensure global market cooperation and financial stability of the global economyy.
Detailed explanation-3: -India’s current quota in the IMF is SDR (Special Drawing Rights) 5, 821.5 million, making it the 13th largest quota holding country at IMF and giving it shareholdings of 2.44%.
Detailed explanation-4: -To promote weapons development in developing nations is not an objective of the IMF.
There is 1 question to complete.