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International Monitory Fund UPSC NOTE

 Why in news

  • Sri Lanka is close to finalising a debt treatment plan with India and the Paris Club.

  • The sources familiar with the negotiations said, pointing to a likely moratorium of upto six years and a reduced interest rate during the repayment period.

  • The discussions are at an advanced stage

  • A formal agreement on the terms can be expected very soon,” the Colombo-based source told The Hindu on Thursday, after a recent discussion among members of the Official Creditor Committee [OCC].  


IMF

  • Mission: Promote global economic growth, financial stability, international trade, and poverty reduction.

  • Membership: The IMF has a near-universal membership of 190 countries.

  • Founded: Established in 1944 at the Bretton Woods Conference following the Great Depression.

  • Headquarters: Washington, D.C., USA

  • Structure: Governed by its member countries, with voting power based on quotas (financial contributions).

Activities:

  • Lending: Provides financial assistance to member countries facing economic difficulties.

  • Policy Advice: Offers economic policy recommendations to member countries.

  • Surveillance: Monitors and analyzes the global economy and individual country economies.

  • Capacity Building: Offers technical assistance and training to member countries.

  • Importance: Plays a crucial role in maintaining global financial stability and promoting economic development worldwide.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: International Monitory Fund UPSC NOTE
International Monitory Fund UPSC NOTE
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