ECO | MCQs

Explanation

Bolivia has recently declared its government's full independence from the IMF and World Bank,

Additional information:

World Bank:

World Bank established: July 1944

World Bank was established during: the Bretton Woods Conference

World Bank Members: 189

World Bank's aim: to provide loans and grants for various projects

World Bank headquarters: Washington, USA

IMF:

The International Monetary Fund (IMF) is a major financial agency of the United Nations and an international financial institution

IMF founded:  July 1944

IMF headquarters: Washington, USA

IMF total members: 190

IMF official language: English 

Explanation

Pakistan has been facing fiscal problems since its creation in 1947 from India.

It was established on 27 Dec 1945

Its Headquarters is located in Washington, D.C., U.S.

Membership: 190 countries (189 UN countries and Kosovo)

The Official language is English

Explanation

About I2U2

Established: October 2021

First virtual summit: July 2022

The quadrilateral I2U2 stands for “I” for India and Israel and “U” for the US and UAE. 

Explanation

regional commissions of The United Nations Economic and Social Council (ECOSOC) are their #5

ND3-12-2022

Explanation

The Regional Comprehensive Economic Partnership is a free trade agreement among the 15 Members 

All ten members of ASEAN (excludes candidate member  East Timor):

1 Brunei

 2 Cambodia

3 Indonesia

4 Laos

5 Malaysia

6 Myanmar

 7 Philippines

 8 Singapore

9 Thailand

10 Vietnam

The three East Asian members of ASEAN Plus Three:

11 China

12 Japan

13 South Korea

The two Oceanian members of ASEAN Plus Six:

14 Australia

15 New Zealand

The 15 member countries account for about 30% of the world's population (2.2 billion people) and 30% of global GDP ($29.7 trillion)

The RCEP was signed virtually on November 15, 2020, on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations.

RCEP) was signed virtually, and organized by Vietnam

Effective: 1 January 2022

Language: English 

ND12_8_2023

Explanation

World Economic Forum (WEF) annual meeting held from 22 May to 26 May 2022 in Davos, Switzerland.

Explanation

 UN ESCAP stands for: United Nations Economic and Social Commission for Asia and the Pacific

ESCAP formed: 28 March 1947

ESCAP HQ: Bangkok, Thailand

ESCAP has: 53 Member States (mostly from the Asia and Pacific regions)

Explanation

The Organization for Economic Co-operation and Development (OECD)

Explanation

The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade 

Explanation

As of recent global rankings, China is the second largest economy in the world by nominal GDP, after the United States.

It plays a major role in global trade, manufacturing, and finance.