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WAEC Economics 1988 Question 5

Question 5

International Economic Organisations

Into which of these organizations would you classify the International Monetary Fund (IMF)?

  1. A.Political organization
  2. B.Trade organization
  3. C.Financial organization
  4. D.Social organization
  5. E.Commercial organization.
Show the answer and explanation

Answer: C (Financial organization)

Explanation

The IMF deals with exchange rates, balance of payments support and loans to member countries, so it is a financial organisation.