Consider the following about the International Monetary Fund (IMF):
1. Recently the Executive Board of IMF has proposed a 50 percent quota increase allocated to members in proportion to their current quotas.
2. The quota increase would help safeguard global financial stability by enhancing the IMF’s permanent resources and reducing reliance on borrowed resources.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2