Which statement about the International Monetary Fund is incorrect?

China, India, Russia, Brazil and Saudi Arabia have 41.29% of the votes in the IMF.

The correct answer is Option 3 - China, India, Russia, Brazil and Saudi Arabia have 41.29% of the votes in the IMF.

The correct statements are:

Option 1- The IMF has 190 member countries as of February 2024.
Option 2- The members of the IMF do not enjoy an equal say.

Correction in the incorrect statement:

Option 3- China, India, Russia, Brazil and Saudi Arabia have 41.29% of the votes in the IMF.

CORRECTION in Option 3: The G-7 members have 41.29% of the votes. (China, India, Russia, Brazil and Saudi Arabia are the other major members of IMF).

The International Monetary Fund:

The International Monetary Fund (IMF) is an international organisation that oversees those financial institutions and regulations that act at the international level. The IMF has 190 member countries (as on 19 Febuary 2024) but they do not enjoy an equal say. The G-7 members US (16.52%), Japan (6.15%), Germany (5.32%), France (4.03%), UK (4.03%), Italy (3.02%) and Canada (2.22%) have 41.29% of the votes. China (6.09%), India (2.64%), Russia (2.59%) Brazil (2.22%) and Saudi Arabia (2.02%) are the other major members.