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World bank and IMF (International Monetary Fund)

Part of: GS-II- International organisation (PT-MAINS-PERSONALITY TEST) The World Bank (WB) is an international organization that provides facilities related to “finance, advice, and research to developing nations” in order to bolster their economic development. It plays a stellar role in providing financial and technical assistance to developing countries across the globe. It is a unique financial institution that provides partnerships to reduce poverty and support economic de

Financial Action Task Force

Paris-based 39-member Financial Action Task Force has decided once again to keep Pakistan on its “grey list”. The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 during the G7 Summit in Paris. The objectives of the FATF are to set standard and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international fina

Ngozi Okonjo- Iweala of Nigeria becomes first female chief of WTO

Ngozi Okonjo- Iweala of Nigeria becomes first female chief of WTO The former Finance Minister of Nigeria, Ngozi Okonjo- Iweala has become the next Chief of the World Trade Organisation . She will hold the position from March 1, 2021, to August 31, 2025. Okonjo- Iweala has become the first woman and African to hold the position at WTO. About Ngozi Okonjo- Iweala: The 66 years old Ngozi Okonjo- Iweala is trained as a development economist. In her home country Nigeria, she w

Preeti Sinha- To lead United Nations Capital Development Fund

Preeti Sinha- To lead United Nations Capital Development Fund The United Nations Capital Development Fund (UNCDF) has appointed Preeti Sinha as its Executive Secretary. She is an Indian-origin investment and development banker. Highlights The executive secretary will work with her focus on providing the micro-finance assistance to women, youth, small and medium-sized enterprises belonging to the underserved communities. The Executive Secretary is the highest leadership rank in the

UN Investment Promotion award to Invest India

UN Investment Promotion award to Invest India Context in Current Affairs: The United Nations Conference on Trade and Development (UNCTAD) recently declared “Invest India” as the winner of the United Nations Investment Promotion Award, 2020. The award recognizes outstanding achievements of investment promotion agencies spread all over the world. Around 180 such agencies were shortlisted for the award in 2020. United Nations Conference on Trade and Development

OPEC+ Countries

The non-OPEC countries which export crude oil along with the 14 OPECs are termed as OPEC plus countries. OPEC plus countries = Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan. India is not a member of OPEC + countries. OPEC member countries produce about 40 percent of the world’s crude oil. Equally important to global prices, OPEC’s oil exports represent about 60 percent of the total petroleum traded

Pabbi-Antiterror-2021 – SCO’s Joint Anti-Terrorism Exercise

India, Pakistan, China and other members of the Shanghai Cooperation Organisation (SCO) will hold a joint anti-terrorism exercise called “Pabbi-Antiterror-2021”. About Exercise Pabbi-Antiterror-2021: It was announced during the 36th meeting of the Council of the Regional Anti-Terrorist Structure (RATS) held in Tashkent, Uzbekistan. Purpose is to improve cooperation between the competent authorities of the SCO member states. Further, helping them in identifying and suppr

United Nation's World Happiness Report 2021

World Happiness Report 2021 has been released. It evaluates levels of happiness by accounting factors such as GDP, social support, personal freedom, and levels of corruption in each nation.  About World Happiness Report: It is an annual report published by the United Nations Sustainable Development Solutions Network (SDSN). It ranks countries by how happy their citizens perceive themselves to be. The 2021 edition focuses on the effects of COVID-19 and how people

World Summit on the Information Society Forum 2021

Union Minister of Telecom has represented India at the World Summit on the Information Society Forum 2021.  About World Summit on the Information Society Forum 2021: It is one of the world’s largest annual gathering of the ‘ICT for development’ community. WSIS’s chief aim is to bridge the global digital divide separating rich countries from poor countries. The WSIS aims to achieve this by increasing internet accessibility in the developing world. The

OPEC and OPEC+ Countries

OPEC and OPEC+ Countries About OPEC It is an intergovernmental organization of 13 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela). HQ is in Vienna, Austria. It aims to manage the supply of oil in an effort to set the price of oil in the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. The current OPE

OPEC and India’s Oil imports

OPEC and India’s Oil imports About OPEC It is an intergovernmental organization of 13 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela). HQ is in Vienna, Austria. It aims to manage the supply of oil in an effort to set the price of oil in the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. The c

OPEC+ Countries

OPEC and OPEC+ Countries About OPEC It is an intergovernmental organization of 13 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela). HQ is in Vienna, Austria. It aims to manage the supply of oil in an effort to set the price of oil in the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. The current OPE

G-20 analysis

G-20 analysis Context: This topic is important for UPSE GS Paper 2. The G20 summit in Rome, agreed to end international public finance for new coal power generation abroad by 2021-end and mobilise funds to support low emission power development to achieve ‘climate goals’ .Let’s understand G20 in detail. About the G20 The G20 is the international forum that brings together the world’s major economies. Its members account for more than 80% of world GDP, 7

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