Consider the following statements about the Financial Sector Assessment Programme and identify the c...........

Economic Affairs World Bank and IMF

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Consider the following statements about the Financial Sector Assessment Programme and identify the correct one/s.

1. It is a joint programme of the World Bank and the IMF carried out every five years.

2. It involves comprehensive and in-depth analysis of a country’s financial sector.

3. It is limited to the developing countries and regions only.

Select the correct answer using the code given below.

1 only

2 and 3 Only

1 and 3 Only

All of the above

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Explanation:

All the statements are correct.
The Financial Sector Assessment Program (FSAP) is a joint program of the International Monetary Fund and the World Bank. Launched in 1999 in the wake of the Asian financial crisis, the program brings together Bank and Fund expertise to help countries reduce the likelihood and severity of financial sector crises.
The FSAP provides a comprehensive framework through which assessors and authorities in participating countries can identify financial system vulnerabilities and develop appropriate policy responses.
The program also helps bring financial sector analysis closer to the center of economic policy discussions within a country and with the Fund and the Bank.
It is limited to the developing countries and regions only.