What is a major role of the International Monetary Fund (IMF) ?

A) It determines the credit ratings of countries.
B) It is the lender of last resort for individuals who cannot secure other types of loans.
C) It functions as a collection agent for global banks.
D) It makes short-term loans to member countries that have deficits and provides foreign currencies for its members.
E) It provides mortgage loans to international home buyers.

International Monetary Fund

An international organization created to foster global monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty around the world.

Short-term Loans

Loans that are scheduled to be repaid in a short period, typically within a year, used for immediate financial needs.

Deficits

The amount by which a government's, company's, or individual's spending exceeds its income over a particular period of time.