International Relations, Uncategorized

Bretton Woods Institutions – World Bank Group

  Source-Worldbank   World Bank is a vital source of financial and technical assistance to developing countries around the world. This is not only a bank in the ordinary sense but a unique partnership to reduce poverty and support development. When? 1944 Headquarter: Washington, D.C. Publications- global economic prospects, Ease of doing business index There… Continue reading Bretton Woods Institutions – World Bank Group

GS-2, International Relations, Uncategorized

Bretton Woods Institutions – IMF

Where? In Bretton Woods, New Hampshire in 1944 during the United Nations Monetary and Financial Conference at the Mount Washington Hotel <That’s why IMF and World Bank are known as Bretton Woods twins> The aim was to help rebuild the shattered post-war economy ( WW2 had just finished in 1945) and to promote international economic… Continue reading Bretton Woods Institutions – IMF

Big Picture, GS-3, Indian Economy, Uncategorized

Devaluation of Chinese Yuan

Watch debate here Summary: The Chinese stock market is once again in turmoil. Added to it is the government’s decision to devalue its currency for the second time in less than six months. This has raised concerns all over the world. The impact of stock market tumbling in Shanghai has been felt all over the… Continue reading Devaluation of Chinese Yuan

GS-3, Indian Economy, Uncategorized

China’s inclusion in IMF currency basket

What is a Special Drawing Right? The fund created the SDR in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unraveled. While the SDR is not technically a currency, it gives IMF member countries who hold it the right to obtain any of the currencies in the basket --… Continue reading China’s inclusion in IMF currency basket