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UPSC Prelims 2022 Paper-1 📅 05 Jun, 2022

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

A
(a) Asian Development Bank
B
(b) International Monetary Fund
C
(c) United Nations Environment Programme Finance Initiative
D
(d) World Bank
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UPSC Prelims
2022 • 05 Jun, 2022 • Paper-1
"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
Organizational Role Analysis: These instruments are explicitly designed to provide swift financial assistance to member nations experiencing urgent balance of p......
Ref/Book : UPSC Prelims 2022
Ref. Subject Economy
Chapter -
Ref. Topic International Institutions
Pg. No -
💡 Analysis & Explanation
Organizational Role Analysis ▼
These instruments are explicitly designed to provide swift financial assistance to member nations experiencing urgent balance of payments issues without the need for full-fledged macroeconomic programs.
Institution Mapping ▼
The International Monetary Fund (IMF) administers the Rapid Credit Facility (RCF) for low-income countries with concessional terms, while the Rapid Financing Instrument (RFI) is available to all member states.
Conclusion ▼
Thus, these lending provisions are entirely handled by the IMF.
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