Countries with chronic balance of payments deficits eventually need to borrow abroad often from the ________ as the lender of last resort?
Correct answer: C. IMF
- A. U.S
- B. OECD
- C. IMF
- D. OPEC
Explanation
The International Monetary Fund lends to countries facing persistent balance-of-payments difficulties and serves as an international lender of last resort. OECD and OPEC are not primarily emergency balance-of-payments lenders.
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