Choose the given statement is true/false:

The International Monetary Fund (IMF) is an organisation whose aim is 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 full form of the WTO is a world trade organisation. It was started as an initiative by developed countries. The main aim of the World Trade Organisation (WTO) is to liberalise international trade for all countries. The WTO establishes rules regarding international trade for all countries and observes that all countries obey them. In practice, trade between many countries is not free and fair; to correct that situation, the WTO stepped in. Developing countries like India have removed barriers. In many cases, governments have continued to protect their producers because they think the producers of their country will not be able to compete with the large producers or companies of the world.
The correct statement will be the main aim of the World Trade Organisation (WTO) is to liberalise international trade for all countries.

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