A first of its kind South Asia Training and Technical Assistance Centre SARTTAC was opened in India ...........

Economic Affairs World Bank and IMF

A first-of-its-kind South Asia Training and Technical Assistance Centre (SARTTAC) was opened in India by InternationalMonetary Fund (IMF) for

1. Socio-economic capacity building in South Asia

2. Addressing immediate liquidity crunch in foreign exchange

Which of the above is/are correct?

1 only

2 only

Both 1 and 2

None

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Explanation:

It will work to support local member countries of SouthAsia viz. India, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka tobuild human and institutional capacity and implement policies forgrowth and poverty reduction.
• SARTTAC is financed mainly by its six member South Asiacountries (mentioned above) with additional support fromAustralia, South Korea, European Union and United Kingdom.
• It will allow the IMF to meet more of the high demand for technicalassistance and training from the region. It is expected to becomethe focal point for the delivery of IMF capacity developmentservices to South Asia.
• The opening of SARTTAC is part of the MoU (between IMF andIndia and other nations) and marks a major milestone in thepartnership between the IMF and its member countries in theregion.