2016 · Q71
Which one of the following nations has faced severe economic crisis in the year 2015 resulting in default in repayment of IMF loan?
General KnowledgeCurrent Affairs
- AChina
- BGreece
- CIreland
- DBelgium
Explanation
In 2015 Greece's sovereign debt crisis culminated in its failure to repay about 1.6 billion euros due to the IMF on 30 June 2015, making it the first developed country to default to the Fund. Capital controls and a referendum on bailout terms followed in July 2015. China, Ireland and Belgium faced no such IMF default in 2015. The country was Greece, option (B).