Choose the given statement is true/false:

The International Monetary Fund (IMF) has an objective to liberalise international trade.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
The World Trade Organisation (WTO), which aims to liberalise international trade, The WTO believes that business should be unregulated and fair. It takes the responsibility of decision-making and ensures that trade between countries is free and unhindered. It supports liberalisation and says all barriers to foreign trade and investment are harmful. It currently has a body of 160 countries as members of the WTO, which collectively frames rules and regulations regarding international trade. The irony is often seen in developed countries as they abruptly disregard rules and regulations made by the WTO.
The correct statement is that the World Trade Organisation (WTO) aims to liberalise international trade.

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