The Prayas ePathshala

Exams आसान है !

The IMF was set up with the aim to bring about international economic coordination to prevent competing currency devaluation by countries trying to promote their own exports.
It is considered as the last resort lender for countries facing severe economic crises.
Quotas are the IMF’s main source of financing, wherein each member of the IMF is assigned a quota, based broadly on its relative position in the world economy.

How many of the above statements are correct?

(a) Only one

(b) Only two

(d) None

Ans: (c)

Explanation:

The IMF was set up in 1945 with the aim to bring about international economic coordination to prevent competing currency devaluation by countries trying to promote their own exports. It later went on to become a last resort lender for countries facing severe economic crises.
IMF funds come from three sources: member quotas, multilateral and bilateral borrowing agreements. Quotas are the IMF’s main source of financing, wherein each member of the IMF is assigned a quota, based broadly on its relative position in the world economy.

How many of the above-given organizations or institutions is India a member of?

(a) Only one

(b) Only two

(d) All four

Ans: (c)

Explanation:

India is a member of four of the five constituents of the World Bank Group viz., International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA). India is not a member of ICSID (International Centre for Settlement of Investment Disputes). India has been accessing funds from the World Bank (mainly through IBRD and IDA) for various development projects.

The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group, whose mandate is to promote cross-border investment in developing countries by providing guarantees to investors and lenders.
MIGA guarantees does not protect investments against non-commercial risks.
It provides extensive knowledge of emerging markets and of international best practice in environmental and social management.

How many of the above statements are correct?

(a) Only one

(b) Only two

(d) None

Ans: (b)

Explanation:

The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group. Our mandate is to promote cross-border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders.
Our guarantees protect investments against noncommercial risks and can help investors obtain access to funding sources with improved financial terms and conditions. The Agency derives its unique strength from the World Bank Group and from its structure as an international organization whose shareholders include most countries of the world. This enables us to provide an umbrella of deterrence against government actions that could disrupt projects, and assist in the resolution of disputes between investors and governments. We also add value through our ability to offer clients extensive knowledge of emerging markets and of international best practice in environmental and social management.

It was launched by the Ministry of External Affairs.
It aligns with the National Education Policy and provides free access to certificate courses in relevant skills.

Which of the statements given above statements is/are correct?

(a) 1 only

(b) 2 only

(d) Neither 1 nor 2

Ans: (b)

Explanation:

P2E is an e-learning solution, launched in 2022, by UNICEF India, YuWaah and partners. This initiative aligns with the National Education Policy and provides free access to certificate courses in relevant skills. It aims to empower 5 million youth between the ages of 14-29 with skills (by 2024) and connect them to job and self-employment opportunities to achieve financial independence.

(a) WEF

(b) UNDP

(d) None

Ans: (d)

Explanation:

The Global Hunger Index (GHI) is an annual report that measures and tracks hunger at the global, regional, and country levels. The GHI is published by the Irish NGO Concern Worldwide and the German NGO Welthungerhilfe. The GHI’s goal is to trigger action to reduce hunger around the world.