Global Finance — Set 2
Abbreviations · वैश्विक वित्त · Questions 11–20 of 40
What is the full form of IDA, the arm of the World Bank that helps the poorest countries?
Correct Answer: A. International Development Association
IDA stands for the International Development Association and provides grants and low-interest loans to the world's poorest nations. It aims to reduce poverty by providing financing for programs that boost economic growth. It was established in 1960 and is overseen by the 174 member countries.
In development finance, what does the abbreviation NDB stand for?
Correct Answer: B. New Development Bank
NDB stands for the New Development Bank, formerly referred to as the BRICS Development Bank. It was established by Brazil, Russia, India, China, and South Africa to mobilize resources for infrastructure. The bank is headquartered in Shanghai, China.
What does the abbreviation MIGA stand for in the World Bank Group?
Correct Answer: A. Multilateral Investment Guarantee Agency
MIGA stands for the Multilateral Investment Guarantee Agency and offers political risk insurance to investors. It helps promote foreign direct investment into developing countries to support economic growth. It was created in 1988 as a specialized member of the World Bank Group.
What is the full form of the abbreviation SDR used by the IMF?
Correct Answer: C. Special Drawing Rights
SDR stands for Special Drawing Rights and is an international reserve asset created by the IMF. Its value is based on a basket of five major currencies: the US dollar, euro, yuan, yen, and pound sterling. It serves as a supplementary foreign exchange reserve for member countries.
What does the abbreviation AfDB stand for?
Correct Answer: B. African Development Bank
AfDB refers to the African Development Bank which focuses on fighting poverty and improving living conditions on the continent. It was founded in 1964 and comprises three distinct entities. It provides both public and private sector investments to African countries.
In international banking, what does the abbreviation LIBOR represent?
Correct Answer: D. London Interbank Offered Rate
LIBOR stands for the London Interbank Offered Rate and was a benchmark interest rate at which global banks lend to one another. It was historically used as a primary indicator for various financial products like mortgages and loans. It is currently being phased out in favor of more robust alternative rates.
What is the full form of the abbreviation UNCTAD?
Correct Answer: A. United Nations Conference on Trade and Development
UNCTAD stands for the United Nations Conference on Trade and Development and deals with trade, investment, and development issues. It aims to maximize the trade opportunities of developing countries and integrate them into the world economy. It was established as a permanent intergovernmental body in 1964.
What does the abbreviation AIIB stand for in global infrastructure finance?
Correct Answer: A. Asian Infrastructure Investment Bank
AIIB stands for the Asian Infrastructure Investment Bank and is a multilateral development bank that aims to improve economic outcomes in Asia. It was proposed by China and began operations in 2016. It focuses on investing in sustainable infrastructure and other productive sectors.
What is the full form of the abbreviation GATT, the predecessor to the WTO?
Correct Answer: C. General Agreement on Tariffs and Trade
GATT stands for the General Agreement on Tariffs and Trade and was signed in 1947 to reduce trade barriers. It provided a framework for international trade negotiations for several decades. It was eventually replaced by the World Trade Organization in 1995.
What does the abbreviation OPEC stand for in the global energy market?
Correct Answer: B. Organization of the Petroleum Exporting Countries
OPEC stands for the Organization of the Petroleum Exporting Countries and is an intergovernmental organization of 13 nations. It aims to coordinate and unify petroleum policies among its member countries to ensure stable oil prices. It was founded in 1960 in Baghdad, Iraq.