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:

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants come to a consensus on their own.

Arbitration

A method of dispute resolution where a neutral third party (the arbitrator) makes a binding decision, outside of a courtroom.

Compulsory

Required by law or a rule; obligatory, leaving no option for non-compliance.

Lifetime Appointments

Positions, often in the judicial branch, where the appointee serves for the remainder of their life, unless they resign, retire, or are removed through impeachment.