Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economy > IMF > Flashcards

IMF Flashcards

1
Q

Reports by IMF

A

World Economic Outlook

Global Financial Stability Report

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Founding member of IMF - India there or not?

A

Yes. India is a founding member

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Objectives of IMF

A

Exchange rate stability
International trade for growth
Balance of Payment crisis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Highest Body of IMF

A

Board of Governors.

Have one Governor + One alternate governor - FM + CBG

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Board of Governor delegated most of Power to?

A

Executive Board

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Executive Board powers?

A

Quota approval
SDR allocation
New members
Bye laws and agreement amendments

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Board of Governors advised by?

A

IMFC

Development Committee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is IMFC?

A

Consist 24 members - FM / CBG - meet 2 / year
Advise BoG - management of international and financial system
No formal decision making powers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Development Committee?

A

Formed in 1974. Has 25 members

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are Functions of IMF?

A 
Lend during BoP crisis 
Surveillance of eco and fin system 
Policy advise 
Exchange rate policy appraisal 
Money laundering and terrorism
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Benefits to members

A

Information on member economic policy
opportunity to influence members policies
digital, fiscal affairs, technical assistance
BoP assistance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Condition on joining

A

1/4 of Quota pay in widely accepted foreign currency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

IMF Quota - what?

A

Member has to pay on joining
Based on share in World economy
Denomination - SDR
25% cash, 75% in securities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

IMF quota guides what?

A

Subscription
Votes
Financing it can get

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

IMF quota review?

A

Every 5 Years

align size and composition of quota to share in world economy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Top 10 IMF countries

A

US UK IT FR GR JP BRIC

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is SDR?

A

Artificial currency of IMF started in 1969 by IMF
International reserve asset
A potential claim on freely usable currency of IMF member

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Value of SDR based on?

A

5 international currency. Dollar > Euro > Yen > Pound > Yuan
Basket composition reviewed every 5 years

19
Q

Can private parties hold / use SDR?

A

No.

20
Q

Criteria for inclusion as basis of SDR?

A

Largest exporters
Freely usable currency
Widely traded in exchange market

21
Q

What is Bancor?

A

Proposed by Keynes.
As global currency
Will create tensions

22
Q

What are sources for lending under IMF?

A

Main funding source - Quota of members
Additional - general agreement to borrow
New agreement to borrow

23
Q

What are instruments under IMF for lending?

A

Poverty reduction and growth facility
Exogenous Shock Facility
Stand By agreements

24
Q

What is Exogenous Shock Facility

A

LIC facing global socks

Policy support + Financial assistance

25
Q

What is Poverty Reduction and Growth Facility

A

Low income countries

Concessional Rates

26
Q

What are Stand By agreements

A

Non Concessional. For those in BoP crisis

EFF - can take. change in economic policy
Not take EFF - funds used well, no need further assistance

27
Q

IR for IMF loans?

A

Except for PGRD and ESF all IR are market related

28
Q

What is Washington Consensus

A

IMF conditionalities in exchange of loans

Devalue currency 
Allow FDI
Privatisation 
Flexible labour laws 
Trade liberalise 
Foreign part in Stock exchange 
Currency convertibility 
Increase rights of foreign investors 
Cutting expenditure
29
Q

What is Austerity?

A

Cutting expenditure

30
Q

Social protection under IMF?

A

Adequate cash transfers

Works with partner institutions for social protection

31
Q

What is Money Laundering

A

Hiding link b/w financial and physical assets generated by criminal activity and illegal origins
Can discourage investment and distort international capital flow

32
Q

What is FATF

A

International Org estb in Paris in 1989 by Ministers of member countries
Effective implementation of legal, operative measures for ML, TF
Help govt set up AML/CFT regimes

33
Q

Decision making body of FATF?

A

FATF Plenary

34
Q

Special Data Dissemination Standard

A

IMF. India part of it.
Country makes committee to observe global accounting standards in govt finance
Country provides info about their data and data dissemination practice

35
Q

India and IMF

A

IMF -> India during BoP Crisis
India -> IMF during Eurozone crisis
India contributor to IMF as participant in Financial Transaction Plan

36
Q

Why need to reform IMF

A

Conditionalities demand reduction in social sector expenditure

37
Q

What is Chiang Mai Initiative

A

Initiative among - ASEAN PRC (HK) JP SK
Currency Pooling arrangement
Draw from foreign exchange reserve pool launched in 2010

38
Q

What is BRICS CRA?

A

Contingent reserve arrangement
Pool of foreign currency
each member contribute to poor
draw from it during BoP crisis

Can borrow only part of its contribution before going to IMF

39
Q

Objective of BRICS CRA

A

Objective - protection against global liquidity pressure when national currency affecting by international financial pressure

40
Q

What is G10?

A

Participate in general agreements to borrow

if IMF resources not enough - can be activated to meet member needs

41
Q

What is G15?

A

at 9th Nam Belgrade 1989
Enhance growth and prosperity
Cooperation in - Trade, Investment, Technology

Expanded to 17 but same name

42
Q

What is G20?

A

After 1999 Asian financial crisis
FMs. CBGs
1st HoState level in 2008
IMF MD + WB MD + IMFC Ch + DC Ch

43
Q

What is G24?

A

in 1971, emerging market and developing countries
meet 2/ear before IMFC and DC meet
intenrational mgt and development of financial issues
ensure international adequate met
Member limited to 24, any of G77 can pariticipate

44
Q

What is G77?

A

1964 at end of 1st session of UNCTAD in geneva
promote collective economic interest
Chair - 2019 Palestine

Economy (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions