Which of the following statements is correct about the International Monetary Fund?
A) It is an international organisation that oversees those financial institutions and regulations that act at the international level.
B) The International Monetary Fund has 190 member countries as of 19 February 2024.
C) All the members of the International Monetary Fund have an equal say.
D) The G-7 members have 75 percent of the votes in the IMF.
Choose the correct answer from the given options:
Answer & explanation
Correct answer: option 1
The correct answer is Option 1 - A and B
The correct statements are:
A) It is an international organisation that oversees those financial institutions and regulations that act at the international level.
B) The International Monetary Fund has 190 member countries as of 19 February 2024.
Correction in the incorrect statement:
C) All the members of the International Monetary Fund DO NOT have an equal say.
D) The G-7 members have 41.29% of the votes in the IMF. (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.)
The International Monetary Fund (IMF) is an international organisation that oversees 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.