The IMF
A) was created at the same time as the World Bank.
B) is governed roughly the same as the World Bank.
C) was originally created to stabilize international momentary flows at a time when other currencies were fixed to the value of the American dollar.
D) Options A, B, C, and D are true.
E) None of the above is true.

Question

Quizplus · Accepted Answer

The International Monetary Fund (IMF) and the World Bank were both created at the Bretton Woods Conference in 1944, establishing a framework for economic cooperation and development that included stabilizing currency exchange rates and providing mechanisms for international financial assistance. The governance structure of the IMF is indeed similar to that of the World Bank, with voting power distributed among member countries based on their financial contributions. The IMF was specifically designed to monitor exchange rates and lend reserve currencies to nations with balance of payments deficits, in the context of the post-war fixed exchange rate system where currencies were pegged to the US dollar.