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

question 131

Multiple Choice

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.

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Definitions:

French

Pertaining to France or its people, language, or culture, rich in history, innovation, and influence on global affairs.

Treaties

Formal agreements between two or more sovereign states, typically relating to peace, trade, or mutual defense.

Great Lakes Region

A geographical area in North America that includes the five Great Lakes, which are Lake Superior, Lake Michigan, Lake Huron, Lake Erie, and Lake Ontario, bordering the United States and Canada.

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An annual British celebration commemorating the failure of the Gunpowder Plot of 1605, where Guy Fawkes attempted to blow up the House of Lords.