Which of the following statement is not true about the International Monetary Fund?
IMF was established along with the word bank
IMF is the result of the Bretton Woods conference
Christine Lagarde is the current Chief Executive Officer of the IMF
Currently 193 countries are the members of the IMF
Answer: Option D
The International Monetary Fund (IMF) was created in 1945.The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Which of the following currency has largest weightage in the determination of the value of the SDR?
Answer: Option C
The IMF decided that the Renminbi (Chinese yuan) would be added to the SDR basket since October 1, 2016. Since then SDR basket consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.