Which organization, established during the Bretton Woods era, functions as a global lender of last resort and provides financial assistance to member countries?

Which organization, established during the Bretton Woods era, functions as a global lender of last resort and provides financial assistance to member countries?

• A. IBRD
• B. GATT
• C. IMF
• D. WTO

Answer: (C)

The International Monetary Fund (IMF) is the institution designed to provide short-term financial help to countries facing balance-of-payments problems, acting as a global lender of last resort to stabilize economies and prevent crises from spreading. It was created at Bretton Woods to oversee monetary cooperation and provide emergency liquidity, along with policy advice to members. In contrast, the IBRD (World Bank) concentrates on long-term development financing for projects like infrastructure, not emergency lending; GATT (now WTO) deals with trade rules rather than financial assistance. So the IMF best fits the idea of a global lender of last resort and provider of financial assistance to member countries.

The International Monetary Fund (IMF) is the institution designed to provide short-term financial help to countries facing balance-of-payments problems, acting as a global lender of last resort to stabilize economies and prevent crises from spreading. It was created at Bretton Woods to oversee monetary cooperation and provide emergency liquidity, along with policy advice to members. In contrast, the IBRD (World Bank) concentrates on long-term development financing for projects like infrastructure, not emergency lending; GATT (now WTO) deals with trade rules rather than financial assistance. So the IMF best fits the idea of a global lender of last resort and provider of financial assistance to member countries.