IMF, World Bank - UPSC MCQ

Odisha has signed a financing agreement with the World Bank for a significant educational initiative.

This initiative aims to enhance education quality and accessibility across various levels. The focus areas include:

• Primary education: Improving foundational learning and resources.
• Higher education: Expanding opportunities for advanced studies and skill development.
• Secondary education: Bridging the gap between primary and higher education.

Each programme is designed to ensure equity in education, addressing challenges such as:

• Resource allocation to underserved areas.
• Quality of teaching and learning environments.
• Access to modern educational tools and technology.

By investing in these educational programmes, Odisha aims to foster a more educated populace, ultimately contributing to the state's economic and social development.

The Grant Agreement from the Global Environment Facility was signed by the Ministry of Finance with the World Bank.

S. Aparna has been appointed as the Executive Director (ED) of the World Bank, representing the constituency that includes India, Bangladesh, Sri Lanka, and Bhutan.

• The appointment signifies a strong representation for the South Asian region.
• S. Aparna is expected to play a crucial role in addressing the developmental needs of these countries.
• Her experience and knowledge will be essential in navigating international finance and policy-making.
• This role involves advocating for the interests of her constituency within the World Bank.

Bolivia is the country whose socialist leader declared total independence from the IMF and World Bank. This significant step was taken to assert national sovereignty and promote economic self-reliance.

Key points about Bolivia's declaration:

• The move aimed to reduce foreign influence over the country's economy.
• It was part of a broader strategy to support local development and social programs.
• This decision received both support and criticism domestically and internationally.

Overall, Bolivia's stance reflects a growing trend among some nations to challenge the traditional roles of international financial institutions.

The latest edition of the World Bank's Global Economic Prospects indicates that India is thesecond fastest growing economyin the world.

• This report highlights India's rapid economic development.
• It positions India just behind the leading economy.
• The growth rate reflects various factors, including government policies and economic reforms.

Overall, this information underscores India's significant role in the global economy.

The World Bank has approved a loan to support the following initiative:

• Skill India - This programme aims to enhance vocational training and skills development across the country.

The primary focus of Skill India is to:

• Promote skill development among the youth.
• Improve employability and create job opportunities.
• Support entrepreneurship through training and resources.

This initiative is crucial for addressing the challenges of unemployment and underemployment in India. By investing in skill development, the programme aims to empower individuals to achieve economic independence and contribute to the nation's growth.

India signed a loan with the World Bank for the Citizen Centric Service Delivery Project in Assam on June 5, 2017.

This project aims to enhance the delivery of government services to citizens by:

• Improving accessibility to services.
• Streamlining processes for efficiency.
• Using technology to facilitate service delivery.

Overall, the initiative focuses on making public services more responsive and user-friendly for the people of Assam.

Pakistan ranked 120th on the Indian Development Report regarding female participation in the workforce. This ranking highlights various challenges that women face in achieving equal opportunities in employment.

• Many factors contribute to this low ranking, including cultural norms and economic barriers.
• Access to education and vocational training is often limited for women.
• Workplace discrimination and lack of support for working mothers further hinder female participation.
• Government initiatives and policies are essential to improve these conditions.

Overall, addressing these issues is crucial for enhancing women's role in the economy.

The International Monetary Fund (IMF) has raised concerns regarding the implications of an ageing population in the Asia-Pacific region. This demographic shift poses several challenges:

• Economic growth: A declining workforce may hinder overall economic productivity.
• Healthcare demands: An older population will likely increase the need for healthcare services and support.
• Pension systems: More retirees can strain pension systems, leading to sustainability issues.
• Social services: Greater demands on social services may arise as the population ages.

Addressing these challenges requires strategic planning and policy interventions to ensure economic stability.

The World Bank Group has approved a loan of USD 210 million aimed at strengthening gram panchayats in West Bengal. This initiative is designed to enhance local governance and improve public service delivery at the grassroots level.

• The funding will support various projects that empower local bodies.
• It aims to enhance the capacity of gram panchayats to manage resources effectively.
• The initiative is expected to improve infrastructure and local services.
• Strengthening gram panchayats is crucial for promoting sustainable development.

The impact of the World Bank's approval of US$175 million for India's Hydrology Project includes:

• Enhancing capacity: Strengthening existing institutions to better assess the water situation.

• Real-time forecasting: Equipping these institutions with systems for real-time flood forecasting across the country.

• Improved management: Assisting new states in managing water flows from reservoirs more effectively.

Overall, these measures aim to significantly improve water management and flood preparedness in India.

Post demonetisation, the IMF has revised India's growth rate to:

• 6.3%
• 6.4%
• 6.5%
• 6.6%

The correct answer is 6.6%.

Christine Lagarde, the head of the International Monetary Fund, was convicted on 19th December concerning a substantial payment made to a prominent businessman.

• The individual involved in this case is Bernard Tapie.
• This conviction relates to a dispute over a compensation amount awarded to Tapie.
• Lagarde's role in the decision to approve the payment raised legal questions.

The World Bank Group paused processes involving India and Pakistan regarding a significant water treaty on 13th December 2016. This treaty is crucial for managing water resources between the two nations.

• The treaty in question is the Indus Water Treaty, which regulates the use of river waters.
• It was established in 1960, facilitating cooperation and sharing of water resources.
• The treaty allocates specific rivers to each country, with India controlling the Beas, Chenab, and Jhelum rivers, while Pakistan controls the Indus and Sutlej rivers.
• Disputes sometimes arise over the interpretation of treaty provisions, leading to intervention from international bodies.

By halting these processes, the World Bank aimed to address ongoing disputes and promote dialogue between the two countries.

In the World Bank Group's report entitled Doing Business 2017: Equal Opportunity for All, released on 25th October 2016, the country that ranked first was New Zealand.

Here are some key points from the report:

• New Zealand topped the list, indicating a strong business environment.
• Factors contributing to this ranking include:
• Efficient regulatory systems
• Ease of starting and running a business
• Robust legal framework for property rights
• The report assesses various countries based on their business regulations and conditions.
• New Zealand's consistent performance highlights its commitment to economic growth and business innovation.

Remittances to India declined by 6% in 2016, according to the World Bank. This decrease reflects various economic factors influencing both the sending and receiving of money. Here’s a brief overview:

• Economic conditions: Global economic challenges impacted the ability of expatriates to send money home.
• Exchange rates: Fluctuations in currency values affected the actual amount received by beneficiaries in India.
• Policy changes: Changes in regulations regarding remittances may have also played a role.
• Geopolitical factors: Political instability in certain regions influenced the flow of remittances.

This 6% drop indicates a significant shift in the remittance landscape, which is vital for many families in India relying on these funds for their livelihoods.

World Bank President Jim Yong Kim announced the appointment of the new Chief Economist and Senior Vice President.

The selected individual is:

• Paul Romer, known for his significant contributions to economic theory and policy.

Romer's expertise will be crucial in guiding the World Bank's approach to global economic challenges, focusing on:

• Promoting sustainable development.
• Enhancing economic growth.
• Addressing poverty reduction.

This appointment reflects the World Bank's commitment to bringing in leaders with strong academic backgrounds and practical experience in economics.

The International Monetary Fund (IMF) has recently approved a significant loan to help support a country's economy. This financial assistance is crucial for nations facing economic challenges.

The key details of the loan include:

• The loan amount is 1.5 billion US dollars.
• This funding is aimed at stabilising the economy and addressing urgent financial needs.
• It reflects the IMF's ongoing commitment to assisting countries during economic difficulties.

Overall, such support is vital for promoting economic recovery and ensuring stability in the affected country.

The Loan and Project Agreements involving World Bank/IBRD assistance of US $100 million were signed by the Government of Karnataka.

• This agreement aims to enhance infrastructure development.
• It supports various projects that foster economic growth.
• The collaboration with the World Bank signifies a commitment to sustainable development.

Through this partnership, Karnataka seeks to improve public services and boost investment in key sectors.

The International Monetary Fund (IMF) was established to promote global economic stability and cooperation. Its main objectives include:

• Enhancing international monetary cooperation: This involves fostering collaboration between countries to maintain economic stability.
• Ensuring exchange rate stability: The IMF works to promote orderly exchange rate arrangements to prevent excessive fluctuations.
• Fostering economic growth: The organisation aims to support policies that lead to high employment and sustainable economic development.

In summary, the IMF's mission encompasses various aspects of international economic relations, aimed at creating a stable and prosperous global economy.