UPSC Prelims 1995 · General Studies
Question 48: International Relations and Current Affairs
Which of the following constitute the World Bank? I. International Bank for Reconstruction and Development II. International Finance Corporation III. International Development Association IV. International Monetary Fund Choose the correct answer from the codes given below:
AnswerThe answer is (a).
The World Bank group consists of the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC) and the International Development Association (IDA), and later bodies such as MIGA and ICSID. The IMF is a separate Bretton Woods institution which looks after exchange-rate stability and balance-of-payments support, not development lending. Remember: Bank group = IBRD + IFC + IDA; the IMF is separate.
- I. The IBRD is the original World Bank.
- II. The IFC is part of the World Bank group.
- III. The IDA is part of the World Bank group.
- IV. The IMF is a separate institution.
Why each option is right or wrong
- (a) Right: I, II and III.
- (b) Incomplete: leaves out IDA.
- (c) Includes the IMF, which is separate, and leaves out IBRD and IFC.
- (d) Includes the IMF, which is not part of the World Bank group.
Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 1995, General Studies. UPSC's own paper isn't online; the words are from a published compilation. The paper on upsc.gov.in.