UPSC Prelims 2022 · Question 1 of 98
UPSC Prelims 2022 question on Rapid Financing Instrument IMF
- ExamUPSC CSE
- Year2022
- PaperGeneral Studies Paper I
- SubjectInternational Relations
- TopicCurrent Affairs
- DifficultyEasy
- TypeDirect
"Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?
Show answer
Answer: B. International Monetary Fund
Verdict
Correct answer: Option (b) — International Monetary Fund.
Analysis
The Rapid Financing Instrument (RFI) provides rapid financial assistance, which is available to all member countries facing an urgent balance of payments need. It was created as part of a broader reform to make the IMF's financial support more flexible.
The Rapid Credit Facility (RCF) of IMF provides rapid concessional financial assistance to low-income countries (LICs) facing an urgent balance of payments need with no ex post conditionality.
Both instruments belong to the International Monetary Fund (IMF).
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