CURRENT AFFAIRS

Detailed explanation-1: -Argentina is the biggest debtor to the IMF, with a total outstanding debt of $42.2bn. The country has had a long and troubled relationship with the IMF, with a history of equally spectacular fall-outs and bail-outs.

Detailed explanation-2: -China’s finance and investments in the Belt and Road initiative (BRI) Chinese engagement through financial investments and contractual cooperation for 2022 in the 147 countries of the Belt and Road Initiative was about USD67. 8 billion based on over 200 deals.

Detailed explanation-3: -The International Monetary Fund (IMF) and the World Bank are institutions in the United Nations system. They share the same goal of raising living standards in their member countries.