Which of the following is NOT a function of the IMF?

Step 1: Analyze the question The question asks which option is NOT a function of the International Monetary Fund (IMF). So we need to find the activity the IMF does not carry out.

Step 2: Concept: What the IMF does The IMF was established in 1944 (Bretton Woods) and began operations in 1945. Its main functions are:

• Promoting international monetary cooperation among member countries
• Facilitating balanced growth of international trade
• Promoting exchange rate stability and orderly exchange arrangements
• Providing short- and medium-term financial assistance to members with balance of payments difficulties
• Offering technical assistance and policy advice (surveillance)

Step 3: Check each option

• A. Providing financial aid to members with balance of payment difficulties: This is a core IMF function (loans, e.g. Stand-By Arrangements). ✔ It is a function.
• B. Promoting international monetary cooperation: This is one of the IMF's founding purposes. ✔ It is a function.
• C. Exchange rate stabilization: The IMF promotes exchange rate stability and avoids competitive devaluations. ✔ It is a function.
• D. Assisting member countries in printing and issuing their currency: Printing and issuing currency is the job of each country's own central bank (in Nigeria, the Central Bank of Nigeria, with the Nigerian Security Printing and Minting Company doing the physical printing). The IMF does not do this. ✘ This is NOT an IMF function.

Step 4: Answer The correct option is D.

Exam tip: Remember the IMF's job as "Money Balance Stability": monetary cooperation, balance of payments support, and stability of exchange rates. Anything about issuing currency belongs to a central bank, and long-term development lending belongs to the World Bank. If an option describes something a central bank does, it is usually the odd one out.