Consider the following statements about IMF:

  1. All members of International Monetary Fund are also members of International Bank for Reconstruction and Development (IBRD)
  2. IMF lends only to member countries

Which among the above statements is/ are correct ?

[A] Only 1 is correct
[B] Only 2 is correct
[C] Both 1 & 2 are correct
[D] Neither 1 nor 2 is correct
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