Question

Given below are two statements: Statement I: The International Monetary Fund (IMF) is an international organization that oversees financial institutions and regulates those that act at the international level.
Statement II: All the 189 members of IMF organization have equal say.

• A. Both Statement I and II are true
• B. Both Statement I and II are false
• C. Statement I is true, but Statement II is false
• D. Statement I is false, but Statement II is true

Hint:

In the IMF, voting power depends on the economic quota of member countries, so richer economies have greater influence.

Answer 1

The Correct Option is C

Step 1: Analyze Statement I
The International Monetary Fund (IMF) supervises the global financial system, provides financial assistance to countries facing economic crises, and monitors international financial stability. Therefore, Statement I is true. Step 2: Analyze Statement II
In the IMF, voting power is determined by the quota assigned to each member country, which is based on its economic strength. Hence, all members do not have equal voting power. Therefore, Statement II is false. Step 3: Conclusion
Statement I is true, but Statement II is false. Final Answer:(C)