(solution) 13. Which of the following is NOT true about the IMF and the

(solution) 13. Which of the following is NOT true about the IMF and the

13. Which of the following is NOT true about the IMF and the Bretton Woods system?

a.

The fixed exchange rate system established by the Bretton Woods agreement ended in 1999 as major the euro replaced the German mark and the French franc.

b.

The IMF issues and allocates SDRs to members that are used for inter-governmental transactions.

c.

IMF conditional lending often requires recipients to follow austerity policies.

d.

IMF was one of the institutions set up by the Bretton Woods agreement.