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 subject as a part of programme of the IMF institute.Which of the statements given above is/are correct?
✓ Correct answer: b) 2 only
ExplanationStatement 1 is incorrect : The Poverty Reduction and Growth Facility(PRGF) was actually established by the International Monetary Fund (IMF), not the Internation- al Development Association (IDA).The PRGF was the IMF’s concessional lending facility for low-income countries, aimed at supporting programs that foster durable growth and poverty re- duction.The PRGF focuses on promoting sustainable economic growth and reducing poverty through concessional loans with low interest rates.It has been replaced by the Poverty Re- duction and Growth Trust (PRGT).Statement 2 is correct : The Singapore Regional Training In- stitute (STI) is the International Monetary Fund’s (IMF) regional training center for the Asia-Pacific region.Established in 1998, the STI aimed at enhancing the capacity of officials from the re- gion in areas by providing training in macroeconomic analysis and policy and related subjects as a part of a programme of the IMF institute.337
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