Global Finance | MCQs

Explanation

Explanation

World Bank headquarters in Washington, USA

It was established in July 1944

Established during the Bretton Woods Conference

 Members: 189

Word Bank Partner institutions:

• IBRO,
• IDA,
• IFC,
• MIGA,
• ICSID (total of five institutions)

Pakistan joined the World Bank in 1950

Explanation

The World Bank was established in 1944 to help rebuild Europe and Japan after World War II.

Its official name was the International Bank for Reconstruction and Devegelopment (IBRD).

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

Explanation

The International Monetary Fund (IMF) works to achieve sustainable growth and prosperity for all of its 190 member countries.

It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.

Explanation

FATF meeting held on 24 February 2023

Suspended membership of Russia over war in Ukraine

South Africa and Nigeria: Kept in gray list

Morocco and Cambodia: Removed from gray list 

FATF stands for Financial Action Task Force

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The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog.

The Financial Action Task Force (FATF) was founded in 1989

One year is the tenure of FATF President Ship which rotates among member Countries

FATF Headquarters is located in Paris

FATF Members countries are 39

FATF's Official languages are English and French

Explanation

The Bretton Woods agreement and system created a collective international currency exchange regime 

That lasted from the mid-1940s to the early 1970s

 It set global financial rules after WWII and led to the creation of IMF & World Bank.

Explanation

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

The only a country which uses Euro Currency out of 48 countries in Asia is Cyprus.

The currency of Cyprus is the Euro.

Euro is the currency used by 20 European Countries. 

Explanation

IMF approved a deal that will provide a USD 3 billion support package to Egypt.

Approved in December 2022.

IMF: International Monitory Fund