Which of the following is NOT TRUE about the IMF and the Bretton Woods system?

a. IMF conditional lending often requires recipient economies to follow austerity policies.

b. IMF was one of the institutions set up by the Bretton Woods agreement.

c. The IMF issues and allocates SDRs to members that are used for inter-governmental transactions.

d. The fixed exchange rate system established by the Bretton Woods agreement ended in 1999 as the euro replaced the German mark and the French franc.