Statement I: The International Monetary Fund (IMF)was set up as a lender of last resort to discourage member nations from devaluating their currency.
Statement II: The World Bank was created in the same year as the IMF for the purpose of making long-term,low-interest loans to developing countries,mainly to build highways,bridges,dams,power generators,and water supply systems.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

Both statements are true. The IMF was indeed set up as a lender of last resort to discourage member nations from devaluating their currency. The World Bank was created in the same year as the IMF and was established to make long-term, low-interest loans to developing countries for infrastructure projects like highways, bridges, dams, power generators, and water supply systems.

Statement I: the International Monetary Fund (IMF)was Set Up as a Lender