Which one of the following nations has faced severe economic crisis in

Which one of the following nations has faced severe economic crisis in the year 2015 resulting in default in repayment of IMF loan?

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China

Greece

Ireland

Belgium

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Answer is Wrong!

This question was previously asked in

UPSC CDS-1 – 2016

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The correct option is B) Greece.

Greece faced a severe sovereign debt crisis in 2015 and came close to defaulting on its loans from international creditors, including the IMF.

In 2015, negotiations between the Greek government and its creditors over bailout terms reached a critical point, leading to capital controls and the risk of Greece exiting the Eurozone. While temporary agreements were reached to avoid a full default and Grexit, the country was in a major economic crisis requiring further bailout funds.

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