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Q. |
A country is said to be in a debt trap if: [IAS 2002] |
A. | it has to abide by the conditionalities imposed by the International Monetary Fund |
B. | it has to borrow to make interest payments on outstanding loans |
C. | it has been refused loans or aid by creditors abroad |
D. | the World Bank charges a very high rate of interest on outstanding as well as new loans |
Answer» B. it has to borrow to make interest payments on outstanding loans |
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