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JAMB Economics 1997 Question 49

Question 49

International Economic Organisations

The organization which provides credit to help countries achieve short-term balance in their balance of payments is the

  1. A.Economic Community of West African States
  2. B.International Monetary Fund
  3. C.International Bank for Reconstruction and Development
  4. D.African Development Bank.
Show the answer and explanation

Answer: B (International Monetary Fund)

Explanation

The IMF lends to member countries to help them correct short-term balance of payments problems; the World Bank (IBRD) gives long-term development loans.