IMF Quota system & its uses - Diplomacy and International relations

Q.  Consider the following statements

1. IMF Executive board decides the Quota based on various parameters including GDP and tariff barriers.

2. Higher quota gives higher voting rights and borrowing permissions.

Which of the above statements are correct?
- Published on 04 Apr 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Both

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