SSC Economics Sample Paper NCERT Sample Paper-4

  • question_answer
    Which of the following organisations were set up under the Breton Woods agreement?

    A)  World Bank      

    B)  IMF

    C)  Both               

    D)  None of these

    Correct Answer: C

    Solution :

    [c] The primary difference between the International Monetary Fund, or IMF, and the World Bank lies in their respective purposes and functions. The IMF exists primarily to stabilize exchange rates, while the World Bank's goal is to reduce poverty. Both organizations were established as part of the Bretton Woods Agreement in 1945. The International Monetary Fund promotes monetary cooperation internationally and offers advice and assistance to facilitate building and maintaining a country's economy. The IMF also provides loans and helps countries develop policy programs that solve balance of payment problems if a country cannot obtain financing sufficient to meet its international obligations. The World Bank's purpose is to aid long-term economic development and reduce poverty in developing countries. It accomplishes this by making technical and financial support available to countries.

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