Question

imf is not a truly democratic institution . justify these statements with 3 suitable eg.

Answer 1

Hello friend here is ur answer


 
                  The International Monetary Fund (IMF) is an international organisation that was created on 22 July, 1944. The IMF describes itself as 'an organisation of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and reduce poverty around the world'.

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Answer 2

Answer:

1. IMF's 173 member states do not have equal voting rights.

(ii) The vote of each country is weighed by how much money it has contributed to the IMF.

(iii) Nearly half of the voting power is in the hands of only seven countries.