Economics · International Financial Institutions - IMF
Consider the following statements regarding the resource framework of the International Monetary Fund (IMF): Statement I: Quotas form the primary and permanent source of financial resources for the IMF. Statement II: The New Arrangements to Borrow (NAB) serve as a second line of defence and a supplementary borrowing arrangement used when quota resources are insufficient. Statement III: Bilateral Borrowing Agreements constitute the first line of defence in the IMF's resource management framework. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement II is correct and supports Statement I, but Statement III is incorrect✓
- 2Both Statement II and Statement III are correct, and both support Statement I
- 3Statement III is correct and supports Statement I, but Statement II is incorrect
- 4Neither Statement II nor Statement III is correct
Correct answer
Statement II is correct and supports Statement I, but Statement III is incorrect
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