Consider the following statements with respect to Multilateral Investment Guarantee Agency MIGA 1 It...........

Economic Affairs World Bank and IMF

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Consider the following statements with respect to Multilateral Investment Guarantee Agency (MIGA):

1.It is a member of International Monetary Fund (IMF).

2.It promotes cross-border investment in developing countries.

3.India is not a member of MIGA.

How many of the statements given above are correct?

Only One

Only Two

All Three

None

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Explanation:

It is a member of the International Monetary Fund (IMF): This statement is correct. The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, which also includes the International Monetary Fund (IMF).

It promotes cross-border investment in developing countries: This statement is correct. MIGA's primary purpose is to encourage foreign direct investment (FDI) in developing countries by providing political risk insurance and credit enhancement to investors and lenders.

India is not a member of MIGA: This statement is incorrect. India is indeed a member of MIGA. India joined MIGA in 1992.