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Which of the following is NOT true about the borrowings of IMF?Select one:a.The IMF may seek the amount it needs in any currency.b.The IMF may seek the amount it needs from official entities.c.The IMF may seek the amount it needs from private sources.d.None of the above

Question

Which of the following is NOT true about the borrowings of IMF?Select one:a.The IMF may seek the amount it needs in any currency.b.The IMF may seek the amount it needs from official entities.c.The IMF may seek the amount it needs from private sources.d.None of the above

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Solution

The correct answer is c. The IMF may seek the amount it needs from private sources. The International Monetary Fund (IMF) primarily borrows from its member countries, not from private sources. The IMF's resources mainly come from the quota subscriptions of its 189 member countries. The IMF can also borrow from official entities if it needs to supplement its quota resources. However, borrowing from private sources is not a common practice for the IMF.

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