Consider the following statements: 1. Poverty Reduction and Growth Facility (PRGF) has been established by the International Development Association (IDA) to provide further assistance to low-income countries facing high level of indebtedness. 2. Singapore Regional Training Institute (STI) is one of the institutes that provides training in macroeconomic analysis and policy, and related subjects as a part of programme of the IMF institute. Which of the statements is/are correct?

Statement 1 is incorrect. The Poverty Reduction and Growth Facility (PRGF) was created by the IMF as a successor to the Enhanced Structural Adjustment Facility (ESAF) with a core aim of orienting programs toward growth and poverty reduction; it was not established by the IDA [1]. Statement 2 is correct. The Singapore Regional Training Institute (IMF–STI) is the IMF’s regional training centre in Singapore and offers courses in macroeconomic and financial subjects for government officials across Asia and the Pacific as part of the IMF’s training/Institute programme [2]. Therefore, only statement 2 is correct.

Sources

1. [1] https://www.imf.org/external/np/exr/ib/2001/043001.htm
2. [2] https://www.imfsti.org/content/dam/STI/AboutSTI/Annual_Report/STI-Annual-Report-2024.pdf