The International Monetary Fund (IMF) began operations in the year
Tap an option to check your answer.
GATE 2023 Question 28: Economic integration and global institutions
Answer and worked solution
Answer: MTA
In the exam this question was dropped and every candidate received the marks, because it was found to be ambiguous.
For context: the IMF was formally established (Articles of Agreement signed) in 1945, but it did not begin actual financial operations until 1947. The question's phrasing ('began operations') most precisely points to 1947 (B), but the ambiguity between 'founding' and 'beginning operations' likely explains why GATE granted marks to all candidates rather than enforcing a single answer.
The trap: (C) 1945
This is exactly the kind of question where the 'trap' was in the question itself, not in the distractors — the ambiguity between IMF's founding year (1945) and when it began actual lending operations (1947) is why GATE granted marks to all.
Economic integration and global institutions has come up 35 times in 5 exams since 2010.
What this question tests
This question is on The IMF, the World Bank and global financial institutions, part of Economic integration and global institutions in International Economics.
The institutions created at Bretton Woods and what they do.
TestStop has 7 past-paper questions on this subtopic.
Question from the GATE 2023 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.