Match the organizations in (column I) with their functions in (column II).

Matrix:

Column I

Column II
(a)
International monetary system
(i)
Form of “rescue”
(b)
World Bank
(ii)
Stabilize exchange rates
(c)
Loan
(iii)

Reduce poverty

(d) Bretton Woods system (iv) Fixed exchange rate.

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a-iii; b-iv; c-ii, d-i

a-ii; b-iii; c-i, d-iv

a-iv; b-iii; c-ii, d-i

a-i, b-ii, c-iii

answer is B.

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Detailed Solution

The IMF's main purpose is to keep exchange rates stable, whereas the World Bank's goal is to reduce poverty. The Bretton Woods Agreement, signed in 1945, formed both institutions. Suppose a country cannot secure adequate finance to meet its international obligations. In that case, the IMF also provides loans and assists nations in developing policy initiatives to address the balance of payment issues. On the other hand, the IMF's loans come with many conditions attached. Often, a loan offered by the IMF as a type of "rescue" for countries in deep debt mainly stabilises international commerce, with the country eventually repaying the loan at high-interest rates. The Bretton Woods system used a set exchange rate as its foundation. National currencies were fixed-rate tied to the US dollar.

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