A
a loan system of the World Bank
B
one of the operations of a Central Bank
C
a credit system granted by WTO to its members
D
a credit system granted by IMF to its members
Correct answer: (d) a credit system granted by IMF to its members
Explanation
- A
a loan system of the World Bank
World Bank loan. Wrong shop.
- B
one of the operations of a Central Bank
Central-bank operation. Not the IMF tranche name.
- C
a credit system granted by WTO to its members
WTO credit. WTO does not run reserve tranches.
- D
a credit system granted by IMF to its members
IMF credit. Reserve (gold) tranche: a member’s automatic drawing right in the Fund.
Summary. Official key is (d). Gold tranche / reserve tranche is an IMF facility — the portion of a quota a member can draw almost automatically. Not World Bank, WTO or a domestic central-bank window.