The International Monetary Fund was created to facilitate the borrowing and lending of dollar reserves to central banks of the countries participating in the Bretton Wood System.

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This is true. The International Monetary Fund (IMF) was created in 1944 as part of the Bretton Woods Agreement. One of its primary functions was to facilitate the exchange of dollar reserves between central banks of participating countries. This was meant to help stabilize currencies and promote international trade. The IMF also provides loans to member countries in times of financial crisis.

The International Monetary Fund Was Created to Facilitate the Borrowing