QUESTION

Easy

Economy

Prelims 2022

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

Select an option to attempt

Explanation

Both Rapid Financing Instrument (RFI) and Rapid Credit Facility (RCF) are lending facilities offered by the International Monetary Fund (IMF) to member countries facing urgent balance of payments needs.

Rapid Financing Instrument (RFI): This is available to all IMF member countries.

Rapid Credit Facility (RCF): This is a concessional lending facility specifically for low-income countries (LICs) that are members of the Poverty Reduction and Growth Trust (PRGT).

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