Assertion (A) : IMF is an international organisation which works to ensure the stability of international monetary system.
Reason (R) : All IMF members enjoy an equal say in decision-making.
In the light of the above statements, choose the most appropriate answer from the options given below :
IMF Analysis: Assertion and Reason
Evaluating Assertion (A): IMF's Role
Assertion (A) states that the IMF is an international organization working to ensure the stability of the international monetary system.
- This statement is correct. The primary mandate of the International Monetary Fund (IMF) is to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Maintaining the stability of the international monetary system is central to these goals.
Evaluating Reason (R): Member Decision-Making
Reason (R) states that all IMF members enjoy an equal say in decision-making.
- This statement is incorrect. IMF decision-making power is based on a quota system. Each member country is assigned a quota, which reflects its relative size in the world economy. Voting power is generally proportional to a country's quota. Therefore, larger economies typically have more influence in IMF decisions than smaller economies.
Conclusion
Based on the analysis, Assertion (A) is correct, but Reason (R) is incorrect. Therefore, the most appropriate choice is that (A) is correct but (R) is not correct.
Correct Option: C
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