Consider the following differences between International Monetary Fund and World Bank:

  1. While main task of World Bank is to fight poverty, IMF aims to economically strengthen its member countries.
  2. While IMF provides only short term loans, World Bank provides both short term and long term loans.

Which of the above statements is/are correct?

Answer: [C] Both 1 and 2

Both the statements are correct.

This question is a part of GKToday's Integrated IAS General Studies Module