Multiple choice

'MFN clause' is one of the main pillars on which

  1. WTO is based

  2. IMF is based

  3. IBRD is based

  4. IDA is based
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A Correct answer
Explanation

The MFN (Most Favoured Nation) clause is a fundamental principle of the World Trade Organization (WTO). It requires that any advantage, favour, privilege or immunity granted by a WTO member to any product originating in or destined for any other country must be extended immediately and unconditionally to like products originating in or destined for all other WTO members. This is a non-discrimination principle at the heart of WTO's multilateral trading system.

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