Q. A country is facing balance of payments difficulties and it needs technical assistance to strengthen its financial systems and improve its economic policies. Which of the following organizations is the country most likely to approach?
1.World Bank
2.International Monetary Fund
3.World Trade Organization
4.Asian Development Bank
Select the correct answer using the codes given below:
Answer: B
Notes:
Explanation – The IMF specializes in providing short-term financing and technical assistance to countries experiencing balance of payments difficulties, while the World Bank focuses on longer-term financing for development projects.
The IMF is specifically equipped to help countries improve their economic policies and strengthen their financial systems through programs like the Financial Sector Assessment Program (FSAP) and the Technical Assistance and Training Program.
Source: ForumIAS
