WBCS.LIVE practice question

The Contingent Reserve Arrangement (CRA) is a financial framework established by which international group?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. ASEAN
  2. SAARC
  3. G20
  4. BRICS

Correct answer and explanation

Correct answer: BRICS

Explanation: āœ… Correct Answer: D) BRICS šŸ“š Explanation: The Contingent Reserve Arrangement (CRA) is a financial framework established by the BRICS nations (Brazil, Russia, India, China, South Africa) in 2014. It is designed to provide liquidity and precautionary instruments to member countries facing short-term balance of payments pressures. This mechanism serves as a crucial financial safety net, acting as an alternative to the traditional International Monetary Fund (IMF) structure.