×

UPSC Courses

DNA banner

DAILY NEWS ANALYSIS

  • 16 October, 2021

  • 13 Min Read

International Monetary and Financial Committee-IMFC

International Monetary and Financial Committee-IMFC

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC) of the Board of Governors of the International Monetary Fund (IMF) at the Annual Meetings 2021 held in Washington D.C. on 14th October 2021.

International Monetary and Financial Committee

  • It is the Ministerial-level committee of the International Monetary Fund (IMF).
  • It meets twice a year, once during the Fund-Bank Annual Meetings in October and once during the Spring Meetings in April.
  • The Committee discusses matters of common concern affecting the global economy and advises the IMF on the direction of its work.
  • Functions:
    • It discusses the management of the international monetary and financial system.
    • It advises the IMF on any other matters of common concern affecting the global economy.
  • IMFC has 24 members, drawn from the pool of 189 governors, and represents all member countries.
  • India is one of the current members.
  • It operates on consensus, including on the selection of its chairman.

Imp Points of the meeting

  • The discussions at the meeting centred on “vaccinate, calibrate and accelerate” which is the theme of the Managing Director's Global Policy Agenda. The members of the IMFC elaborated the actions and measures taken by member countries to combat COVID-19 and facilitate economic recovery.
  • Finance Minister Smt. Sitharaman conveyed that India recognises that universal vaccination is the key to stemming the spread of the virus.
  • She asserted that the stark differences in vaccination coverage between low-income countries and advanced countries are of concern and it is critical that we need to address vaccine inequity.
  • The Finance Minister emphasized the importance of the multilateral approach with the principles of equity and common, but differentiated, responsibilities and capabilities to combat climate change.
  • Smt. Sitharaman stressed that it is important to recognize the formidable challenges faced by developing countries in getting access to affordable financing and technology.

Source: PIB


Poshan Innovation Platform (PIP)

Aim - To improve the nutritional status of mothers and children under five years of age, at the last mile. Launched by - India Nutrition Collaborative in partnership with the office of the Principal Scientific Adviser to the Government of India. India ranked 111 of the 125 in the Global Hunger Index 2023.

Total Fertility Rate (TFR) in Kerala

Kerala breaks the general assumption that educated women have fewer children than uneducated women. The Total Fertility Rate (TFR) among educated women is remarkably higher than that among the illiterate women. Kerala is the only State in the country with high Total Fertility Rate among educated women. The Total Fertility Rate (TFR

MAHARISHI - International Research Initiative

It is an initiative proposed by India to advance research in the field of millets and other ancient grains. The initiative's secretariat is based at the Indian Institute of Millets Research (IIMR) in Hyderabad. Technical Support - International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), 1 CGIAR Centres, and oth

75th Year of Universal Declaration of Human Rights

Human Rights 75 is an initiative to mark the 75th anniversary of Universal Declaration of Human Rights. Human Rights 75, an initiative whose  3 main goals focus on universality, progress and engagement under the leadership of UN Human Rights, together with its partners. UDHR – A global document that establishes th

Red Sprite

The European Space Agency (ESA) astronaut captures images of red sprite from ISS Cupola observatory. It is dubbed as red lightening which lasts merely a millisecond. It is a part of transient luminous event (TLE), a rare electrical discharge that can appear over thunder clouds. Unlike typical lightning bolts that de

DNA

01 Feb,2024

Toppers

Search By Date

Post Feed

Newsletter Subscription
SMS Alerts

Important Links