On June 25, 2021, Pakistan finalized a _______ billion dollar, three-year trade credit agreement with the International Islamic Trade Finance Corporation (ITFC) to finance imports of crude oil, liquefied natural gas, and petroleum derivatives.
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Answer: B. 4.5
Explanation
Pakistan entered into a substantial financial agreement to facilitate critical imports of essential energy commodities. The finalized trade credit arrangement amounted to four point five billion dollars over a three-year operational period. The International Islamic Trade Finance Corporation provided the funding to support national petroleum and gas acquisitions. Energy imports constitute a major portion of the national import bill, requiring robust foreign financing facilities. The International Islamic Trade Finance Corporation is a specialized institution of the Islamic Development Bank group. Trade credit agreements help emerging economies manage foreign exchange reserves while securing vital commodity supplies.
The two billion dollar figure underestimates the actual total value of the finalized trade credit agreement. The six billion dollar option exceeds the officially announced financial magnitude of this specific energy facility. The final option incorrectly dismisses the choices, whereas the correct monetary figure is explicitly provided.
- Subject
- Current Affairs
- Category
- World Current Affairs
- Topic
- —
- Difficulty
- medium
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