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Question
'Hard Loan' refers to a loan that-
is very difficult to obtain
incurs an exorbitant rate of interest
requires repayment in currency of strong economy
cannot be repaid in installments
ANSWER : 3
Descrption
<p>A hard loan is a foreign loan that must be paid in hard currency, which is the currency of a nation that has political stability and a reputation for economic strength.</p> <p>For example, a country classified as a developing country may borrow via a hard loan denominated in U.S. dollars.Jan.</p>
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