IBPS PO Prelims Model Paper 7 with solutions

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Directions (26-30) : Which of the following phrases (1), (2), (3), (4) given below in the statement should replace the phrase printed in bold in the sentence to make it grammatically correct? If the sentence is correct as it is given, and ‘No Correction is required’, mark (5) as the answer.
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Question : 29 of 100
 
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The World Bank and the IMF had to waive off the debts of some nations because they were not in a position to repay.
(A) cut off the debts
(B) seize the debts
(C) forego the debts
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