This question was purely based on current affairs. Recently Rapid Financing Instruments and Rapid Credit Facility were in news, due to Sri Lankan economic crisis. It was a medium-level question because it covered almost in all the sources of the current affair but not in many standard sources. “ Rapid Financing Instrument ” and “ Rapid Credit Facility ” are related to the provisions of lending by which one of the following ? (a) Asian Development Bank (b) International Monetary Fund (c) United Nations Environment Programme Finance Initiative (d) World Bank Solution-A What is Rapid Financing Instrument (RFI)? It provides rapid financial assistance , which is available to all member countries facing an urgent balance of payments need. It is flexible financial support and it can address the diverse needs of member countries. The RFI replaced the IMF’s previous emergency assistance policy and...
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