Which of the following statements is NOT true of the IMF?
A) The IMF's mandate is to promote international monetary cooperation,exchange stability,and orderly exchange arrangements.
B) It is an enduring legacy of the Bretton Woods system.
C) IMF loans usually have to be repaid in one to five years,although payments have been extended in some cases.
D) Each member country has equal capacity to borrow money from the IMF and equal voting powers.

Question

Quizplus · Accepted Answer

The IMF operates on a quota system where a member's financial commitment determines its borrowing capacity and voting power, meaning not all countries have equal borrowing capacity or voting power.

Which of the Following Statements Is NOT True of the IMF