What is a major role of the International Monetary Fund (IMF)?
A)It determines the credit ratings of countries.
B)It is the lender of last resort for individuals who cannot secure other types of loans.
C)It functions as a collection agent for global banks.
D)It makes short-term loans to member countries that have deficits and provides foreign currencies for its members.
E)It provides mortgage loans to international home buyers.

Question

Quizplus · Accepted Answer

The major role of the International Monetary Fund (IMF) is to provide short-term loans to member countries that have deficits and provide foreign currencies for its members. It also promotes international monetary cooperation, facilitates international trade, promotes exchange rate stability, and provides resources to help members in need of technical assistance and training. Choices A, B, C, and E are incorrect because they do not accurately describe the role of the IMF.

What Is a Major Role of the International Monetary Fund