The removal of foreign exchange restrictions, to stabilize exchange rates and to facilitate

A multilateral payments system between member countries. In 1947.

C) It was established as a central interstate savings (сберегательный) bank. In 1944.

5. In what way do member-countries finance the International Monetary Fund?

A) They do it through quotas reflecting their economic standing.

B) All members of the IMF, they are 184 altogether, pay the same contributions. Credits are

given from the aggregate capital of the IMF by the decision of the “Group of Ten.”

c) The “Group of Ten” plus Russia pay contributions forming the aggregate capital of the IMF

Which they distribute later to the developing countries.

6. What is known to you about the International Bank for Reconstruction and Development (IBRD)?

A) It is an international universal bank dealing with a wide range of operations, e.g. giving credits

And loans to trade, industrial and other enterprises and organizations.

B) I know that about a hundred countries are its clients. The aggregate capital of the bank is

Formed by their contributions. Its credits are given for a period of five years with a high

Interest rate.

C) The purpose of the Bank is to encourage capital investment for the reconstruction and development

Of its member countries, either by channelling the necessary private funds or by making