{"id":2231,"date":"2024-03-05T15:29:38","date_gmt":"2024-03-05T15:29:38","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=2231"},"modified":"2024-03-05T15:29:38","modified_gmt":"2024-03-05T15:29:38","slug":"on-the-basis-of-size-and-composition-of-external-debt-world-bank-has-classified-india-as","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/on-the-basis-of-size-and-composition-of-external-debt-world-bank-has-classified-india-as\/","title":{"rendered":"On the basis of size and composition of external debt, World Bank has classified India as"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;a moderately indebted country&#8221; option2=&#8221;a less indebted country&#8221; option3=&#8221;a heavily indebted country&#8221; option4=&#8221;a critically indebted country&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is (a) a moderately indebted country.<\/p>\n<p>The World Bank classifies countries into four categories based on the size and composition of their external debt:<\/p>\n<ul>\n<li>Low-income countries (LICs) have an external debt-to-GNI ratio of more than 70% and an external debt service-to-exports ratio of more than 25%.<\/li>\n<li>Lower-middle-income countries (LMICs) have an external debt-to-GNI ratio of between 40% and 70% and an external debt service-to-exports ratio of between 15% and 25%.<\/li>\n<li>Upper-middle-income countries (UMICs) have an external debt-to-GNI ratio of between 20% and 40% and an external debt service-to-exports ratio of between 10% and 15%.<\/li>\n<li>High-income countries (HICs) have an external debt-to-GNI ratio of less than 20% and an external debt service-to-exports ratio of less than 10%.<\/li>\n<\/ul>\n<p>India is classified as a moderately indebted country because it has an external debt-to-GNI ratio of 22.2% and an external debt service-to-exports ratio of 1.6%.<\/p>\n<p>The World Bank&#8217;s classification of countries is based on a number of factors, including the size of the country&#8217;s external debt, the composition of the debt, the country&#8217;s economic performance, and the country&#8217;s debt sustainability. The World Bank&#8217;s classification of countries is used to determine eligibility for certain types of financial assistance and to monitor the progress of countries in reducing their external debt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;a moderately indebted country&#8221; option2=&#8221;a less indebted country&#8221; option3=&#8221;a heavily indebted country&#8221; option4=&#8221;a critically indebted country&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-2231","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>On 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