Question of The Day08-06-2022

"Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?


Correct Answer : b ) International Monetary Fund

Explanation :

The rapid Financing Instrument of IMF provides rapid financial assistance to all member countries facing an urgent balance of payments need. It replaced the IMF's previous emergency assistance policy.

Rapid Credit Facility provides rapid concessional financial assistance to low-income countries facing an urgent balance of payments need with no ex-post conditionality where a full-fledged economic program is neither necessary nor feasible. It is available to Poverty Reduction and Growth Trust (PRGT) eligible members.

Hence, option (B) is correct.

This question was asked in UPSC CSE 2022 GS Paper 1.



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