Question on: JAMB Economics - 2024
Which of the following is NOT a function of the IMF?
A
Providing financial aid to members experiencing balance of payment difficulties
B
Promoting international monetary cooperation
C
Exchange rate stabilization
D
assisting member countries in printing and issuing their currency
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Correct Option: D
The International Monetary Fund (IMF) performs several key functions related to international finance:
- Providing financial aid: The IMF lends money to member countries facing balance of payments problems.
- Promoting international monetary cooperation: The IMF facilitates discussions to promote a stable international monetary system.
- Exchange rate stabilization: The IMF works to stabilize exchange rates through financial assistance and policy advice.
- Not a function: Assisting member countries in printing and issuing their currency—this is the responsibility of each country's central bank.
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