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U.S. DECLARES EMERGENCY TO PROTECT VENEZUELAN SOVEREIGN FUNDS Why in the News? Emergency order: Donald Trump declared a national emergency to block courts and creditors from seizing Venezuelan government funds held in the United States, a move that could be seen as an ex-post facto intervention in financial matters. Executive action: An executive order bars …
Read MoreG20 Finance Ministers & Central Bank Governors Meeting – Durban, South Africa Duration: Two-day meeting in October Location: Durban, South Africa Outcome: Joint Communique and Chair’s Statement issued to boost global economic cooperation and global growth Key Themes Discussed: Global Economic Risks Ongoing wars, geopolitical tensions, and trade disruptions Supply chain vulnerabilities (due to war, …
Read MoreIndia Abstains from IMF Vote on Funding Pakistan Why in the News ? India abstained from voting on the IMF’s decision to extend additional funding to Pakistan. The Indian government raised concerns over Pakistan’s poor track record with IMF loans and potential misuse of funds for cross-border terrorism. About India’s Stance: India raised concerns about …
Read MoreAsian Development Bank (ADB) Establishment and Headquarters Founded on December 19, 1966, and headquartered in Manila, Philippines. Multilateral development bank promoting social development, sustainable economic growth, and regional integration in Asia and the Pacific. Membership and Leadership A total of 68 member countries, including 49 from Asia-Pacific and non-regional developed countries. Japan, the US, China, …
Read MoreAfter World War II, there was a pressing need among powerful nations for a more unified global financial order. The establishment of the United Nations Organization (UNO) signified hopes for a more stable world order. To address these concerns, representatives from the USA, the UK, and 42 other nations convened at Bretton Woods, New Hampshire, …
Read MoreSyllabus: GS 2 : India and its Neighborhood- Relations. Effect of Policies and Politics of Developed and Developing Countries on India’s interests Focus: China’s Role in Debt Surge: China’s significant lending activities, particularly in South Asia, Africa, and South America, have led to a surge in external debt in these regions, raising concerns about financial …
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