The IMF is an international financial institution that provides financial assistance (loans) to its member countries experiencing balance of payments problems. Access to the IMF's financial resources is restricted to its member countries. The terms and conditions of loans vary depending on the lending instrument and the specific situation of the member country.
Which one of the following statements is correct, regarding the International Monetary Fund?
Asked in MPSC CS Prelims 2013 · Topic: Balance of Payments (BoP) (Definition and Significance of Balance of Payments (BoP))
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Answer: C. IMF grants loans only to member countries.
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