Q. With reference to World Bank and International Monetary Fund, which of the following statements is/are correct?
1. The World Bank and International Monetary Fund were set up together and are popularly known as Bretton Wood Twins.
2. Headquarters of International Monetary Fund and World Bank are located at Washington D.C. and New York respectively.
Select the correct answer from the code given below :
a) Only 2
b) Neither 1 nor 2
c) Both 1 and 2
d) Only 1
Correct Answer: d) Only 1
Question from UPPSC Prelims 2025
Explanation:
Statement 1 is correct: The IMF and the World Bank (originally the IBRD, the core of the World Bank Group) were conceived together at the 1944 Bretton Woods Conference and are popularly called the Bretton Woods twins. They were established through their Articles of Agreement around the same time and began operations in 1946–47.
Statement 2 is incorrect: The headquarters of both the IMF and the World Bank are in Washington, D.C., USA. The World Bank is not headquartered in New York (New York is the UN headquarters).
Therefore, only statement 1 is correct.
