At present, how many countries are the members of the International Monetary Fund (IMF)?
- (a)188
- (b)189
- (c)187
- (d)190
Correct — B, 189. At the time of this 2018 exam the International Monetary Fund had 189 member countries. South Sudan had become the 188th member in April 2012 and Nauru the 189th in April 2016, and no new country joined between then and the exam.
- (a)188 — 188 was the membership before Nauru joined in April 2016 (South Sudan had been the 188th member since 2012).
- (c)187 — Too few — the IMF had crossed 187 members well before 2018.
- (d)190 — The IMF reached 190 members only when Andorra joined in October 2020 — after this exam.
The IMF is a Bretton Woods institution (established at the 1944 Bretton Woods Conference, headquartered in Washington D.C.) that promotes global monetary cooperation and lends to members facing balance-of-payments problems. Its membership is near-universal; each member's quota fixes its subscription, voting power and access to financing.
Because membership grows in steps as new states join, 'how many members' is time-sensitive — anchor to the 189 figure that held from April 2016 (Nauru) until October 2020 (Andorra).
- IMF established at the 1944 Bretton Woods Conference; headquartered in Washington D.C.
- Membership stood at 189 from April 2016, when Nauru joined.
- South Sudan had been the 188th member (2012).
- Andorra became the 190th member in October 2020, after this exam.
- Time-sensitivity — 189 at the exam versus 190 today
- Confusing IMF membership with World Bank membership
- Mixing up the IMF and World Bank headquarters
MPPSC and UPSC ask the membership count, headquarters, functions, or the IMF-versus-World Bank distinction.
Regarding the International Monetary Fund, which one of the following statements is correct?
- (a) It can grant loans to any country
- (b) It can grant loans to only developed countries
- (c) It grants loans to only member countries
- (d) It can grant loans to the central bank of a country
Answer(c) It grants loans to only member countries
Same concept — IMF membership: this question turns on the fact that the Fund deals only with its member countries, the very set whose count (189) the MPPSC item asks for.
- practice — not a real PYQ
The IMF and the World Bank were established at which 1944 conference?
- (a)Bretton Woods Conference
- (b)San Francisco Conference
- (c)Yalta Conference
- (d)Dumbarton Oaks Conference
Answer(a) Bretton Woods Conference — held in New Hampshire, USA.
- practice — not a real PYQ
A member country's voting power in the IMF is determined mainly by its:
- (a)population
- (b)quota
- (c)GDP growth rate
- (d)gold reserves
Answer(b) quota — which fixes subscription, voting weight and access to finance.