Debtor Reporting System (DRS), sometimes seen in news was established bya)International Monetary Fund (IMF)b)World Bankc)New Development Bank (NDB)d)Asian Development Bank (ADB)Correct answer is option 'B'. Can you explain this answer?

Question

Answer

A new study has found under-reported debts to the tune of $385 billion in projects carried out in dozens of countries under China’s Belt and Road Initiative (BRI), with a rise in “hidden” debt on account of an increasing number of deals struck not directly between governments but structured through often opaque arrangements with a range of financing institutions.

The total debt, was “systematically under-reported to the World Bank’s Debtor Reporting System (DRS) because, in many cases, central government institutions in LMICs [low and middle income countries] are not the primary borrowers responsible for repayment”.

Debtor Reporting System (DRS) is a statistical reporting system maintained by the World Bank to monitor the debt of developing countries. Information is supplied through reports from debtor countries.

Answer

A new study has found under-reported debts to the tune of $385 billion in projects carried out in dozens of countries under China’s Belt and Road Initiative (BRI), with a rise in “hidden” debt on account of an increasing number of deals struck not directly between governments but structured through often opaque arrangements with a range of financing institutions.

The total debt, was “systematically under-reported to the World Bank’s Debtor Reporting System (DRS) because, in many cases, central government institutions in LMICs [low and middle income countries] are not the primary borrowers responsible for repayment”.

Debtor Reporting System (DRS) is a statistical reporting system maintained by the World Bank to monitor the debt of developing countries. Information is supplied through reports from debtor countries.

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