BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Name the International body that has announced that global debt has reached an all-time high of 184 trillion US dollars with the United States, China and Japan accounting for more than half of it.
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IMF
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World Bank
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Asian Development Bank
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WHO
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Explanation:
Detailed explanation-1: -The $300 trillion works out to $37, 500 of debt for every person in the world, compared to a GDP per capita of just $12, 000. Global governments, households, financial corporates and nonfinancial corporates owe a record $300 trillion as of June 2022.
Detailed explanation-2: -On 1 March 1947, the IMF began its financial operations, and on 8 May France became the first country to borrow from it.
Detailed explanation-3: -Overall, global debt remained, in 2021, 19 percent of GDP above pre-pandemic levels.
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