Which of the following countries has an effective right of veto over IMF and World Bank decisions?

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France

Australia

Russia

USA

answer is D.

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Detailed Solution

The USA has an effective right of veto over IMF and World Bank decisions.
The World Bank and the International Monetary Fund are the Bretton Woods institutions. The World Bank and IMF started conducting financial transactions in 1947. Western industrial powers dominated these institutions' decision-making processes. As a result, major IMF and World Bank decisions can effectively be overruled by the United States. Due to its most considerable contributions and general dominance on the international stage, the United States dominates both institutions. These two international financial institutions, established in 1944, are outmatched by the United States and a small number of its allies that seek to impose unfavourable policies on the entire world's population.

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