With reference to the Executive Board of the International Monetary Fund (IMF), consider the following statements: 1. The Executive Board is responsible for conducting the day-to-day business of the IMF and operates mainly based on papers prepared by IMF staff. 2. Each Executive Director in the Board has an equal vote, regardless of the economic size or quota of the country they represent. Which of the statements given above is/are correct? |ForumIAS

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

Explanation:

Statement 1 is correct. The Executive Board conducts daily business and relies heavily on staff-prepared documents.
Statement 2 is incorrect. Voting power is not equal; it includes basic votes (equal for all) and quota-based votes, which vary by country.

Source– Forum IAS

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