What was the approximate average annual cost for a country suffering from default, banking, and exchange rate crises simultaneously during the period 1970 to 2000?
A) 2% of GDP per year
B) 12% of GDP per year
C) 22% of GDP per year
D) 92% of GDP per year

Question

Quizplus · Accepted Answer

According to research, countries experiencing default, banking, and exchange rate crises simultaneously during the period of 1970-2000 incurred an average cost of 22% of GDP per year. This highlights the severe economic consequences of such crises and the importance of preventing them.

What Was the Approximate Average Annual Cost for a Country