Consider the following statements with respect to International Monetary Fund (IMF):1. The IMF's primary purpose is to ensure the stability of the international monetary system.2. IMF raises its resource only through member countries.Which of the following codes below given is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

About International Monetary Fund (IMF):

The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.
The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other.
The Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.
Most resources for IMF loans are provided by member countries, primarily through their payment of quotas.
While quota subscriptions of member countries are the IMF’s main source of financing, the Fund can supplement its quota resources through borrowing if it believes that they might fall short of members’ needs.

Source: IMF