Consider the following statements:
Which of the statements given above is/are correct?
Statement 2 is correct. The Singapore Regional Training Institute (STI) functions as an integral part of the International Monetary Fund (IMF) Institute's capacity development initiatives. It provides training to government officials from member countries, particularly in the Asia-Pacific region, on macroeconomic analysis, policy formulation, financial sector issues, and public debt sustainability.
Statement 1 is incorrect. The Poverty Reduction and Growth Facility (PRGF) was established by the International Monetary Fund (IMF) in 1999 to provide concessional financial assistance to low-income countries facing high levels of indebtedness. It was not established by the International Development Association (IDA), which is an arm of the World Bank Group. The PRGF was subsequently replaced by the Extended Credit Facility (ECF) in 2010 as the IMF's primary instrument for medium-term financial support to low-income countries.
Option (a) is incorrect because Statement 1 is false.
Option (c) is incorrect because Statement 1 is false.
Option (d) is incorrect because Statement 2 is true.