Question
Which one among the following is not correct ?
The correct answer is
IMF has 198 countries as its members.
IMF Facts: Identifying the Incorrect Statement
The question asks to identify the statement about the International Monetary Fund (IMF) that is not correct. Let's analyze each option:
Option Analysis
-
Option 1: IMF’s headquarters is in Washington, D.C.
This statement is correct. The IMF is headquartered in Washington, D.C., USA. -
Option 2: IMF has 198 countries as its members.
This statement is incorrect. As of recent data, the IMF has 190 member countries. Therefore, 198 is not the correct number of member states. -
Option 3: IMF is an outcome of the Bretton Woods Conference.
This statement is correct. The IMF, along with the World Bank, was conceptualized and established as a result of the United Nations Monetary and Financial Conference held at Bretton Woods, New Hampshire, in July 1944. -
Option 4: IMF was found on July 7, 1944.
This statement is broadly considered correct in the context of its origins. While the Bretton Woods Agreement was signed on July 22, 1944, and the IMF officially came into existence later, the founding year is firmly rooted in the 1944 conference. The specific date provided might differ slightly from the official establishment date, but the year 1944 marks its inception. Given that Option 2 presents a clear factual inaccuracy regarding the number of members, Option 4 is considered correct in comparison.
Conclusion on Incorrect Statement
Based on the analysis, the statement that is factually incorrect is that the IMF has 198 member countries. The actual number is 190.
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Important Questions from IMF
- IMF provides __________ assistance to correct the Balance of payment disequilibrium of member countries.
- Statement (I) : Developing countries can borrow more than their quota under Extended Fund Facility (EFF) of IMF.
Statement (II) : The Extended Fund Facility (EFF) was created in 1984 to help the developing countries over longer period upto 3 years. Match the items of List – I with those of List – II with regard to international monetary fund’s various schemes :
List – I List – II a. Extended Fund Facility (EFF) i. Repayment period 4 to 10 years b. Stan Arrangements ii. Repayment period 3 to 5 years c. Supplemented Reserve Fund (SRF) iii. Repayment period 2 to 5 years d. Poverty Reduction and Growth Facility (PRGF) iv. Repayment period 10 years Codes :
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