In the 1990s this agency has acted like an international lender of last resort to cope with financial instability.

Question

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The International Monetary Fund (IMF) acts as an international lender of last resort to countries facing financial instability, particularly during the 1990s. The World Bank and International Bank for Reconstruction and Development (IBRD) focus mainly on providing long-term development loans to countries, while the European Central Bank is responsible for conducting monetary policy for the eurozone countries.

In the 1990s This Agency Has Acted Like an International