GS PrelimsEconomyFinancial Institutions and Financial markets2005
Consider the following statements:
1. Poverty Reduction and Growth Facility (PRGF) has been established by the International Development Association (IDA) to provide further assistance to low-income countries facing high level of indebtedness.
2. Singapore Regional Training Institute (STI) is one of the institutes that provides training in macroeconomic analysis and policy, and related subjects as a part of programme of the IMF institute.
Which of the statements is/are correct?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct Answer: Option B
Explanation
1. Statement 1 is incorrect. The Poverty Reduction and Growth Facility (PRGF) was established by the International Monetary Fund (IMF), not the International Development Association (IDA). IDA is part of the World Bank Group.
2. Statement 2 is correct. The Singapore Regional Training Institute (STI) is a joint venture between the Government of Singapore and the IMF, providing training in macroeconomic analysis and policy as part of the IMF institute's program.
3. Therefore, only statement 2 is correct.