IMF. -- International Monetary Fund
It comprises of 189 countries
It was created In 1945
Its executive board comprises of 24 directors each representing single country or group of countries.
It has its headquarter in Washington, D.C.
- Promotion of international monetary cooperation
- Promotion of exchange stability
- It facilitates expansion and growth of international trade
- Helps in establishment of multilateral system of payment
The largest borrowers are Argentina, Ukraine. Greece, Egypt,
The largest precautionary loans are Mexico, Colombia, Morocco.
IMF has projected economic recovery of India in 2020-21
Growth rate is expected to be shoot up from estimate of 4.8% for the current fiscal year by 1% to 5.8% in 2020-2021 .
ASEAN - Association of South East Asian Nations.
The motive of ASEAN is to promote economic cooperation in South East Asia and ensure economic stability in the region.
The Association of South East Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN, namely Indonesia, Malaysia, Philippines, Singapore and
Its members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines. Singapore. Thailand, and Vietnam.
The group has played a central role in Asian economic integration, signing six free trade agreements with other regional economies and helping spearhead negotiations for what could be the worlds largest tree trade pact.
The ASEAN Vision 2020, adopted by the ASEAN Leaders on the 30th Anniversary of ASEAN, agreed on a shared vision of ASEAN as a concert of Southeast Asian nations, outward looking, living in peace, stability and prosperity, bonded together in partnership in dynamic
development and in a community of caring societies.
- Promoting regional peace and stability through abiding respect for justice
- Promoting collaboration and mutual assistance on the matters of common interest
- Providing assistance to members in the form of training and research facilities in various fields.
- Promotion of South Asian studies
35th summit of ASEAN and the related summits was held in Bangkok from 1- 4 November, 2019.
The theme of the summit was Advancing Partnership for sustainability.
The 16" India ASEAN submit was held on 3th November 2019 in Bangkok. Thailand
The award ceremony of 5th ASEAN Youth Video Contest was held on 19th July, 2019 in Vientiane Lao PDR, at the Gala Dinner of 11th ASEAN Ministerial meet on Youth.
BRICS - Brazil, Russia, India, China and South Africa.
It is an association of live major emerging national economies: Brazil, Russia, India, China and South Africa.
India became its member in 2016
Brazil hosted the most recent 11* BRICS summit on 1 a14 November 2019, The theme of submit was Economic growth for Innovative future
The five nations in BRICS have the bilateral relationship which focuses on the mutual benefit, equality and non interference basis.
The World must unite as one to decisively confront global challenges.Corrective action must begin with the reform of institutions of global governance. This has been on the BRICS agenda since its inception. Narendra Modi
India proposed to hold 1st meeting of BRICS Water Ministers in India has signed a deal worth Rs 1500 crore to buy R27 air to air missile from Russia with an objective to boost the capabilities of Indian Air Force.
First BRICS Ministerial meeting was held on 20 September, 2006 in NewYork.
SAARC - South Asian Association for Regional Cooperation
SAARC stands for the South Asian Association for Regional Cooperation
Its member states are Afghanistan, Bangladesh, Bhutan, lndia, the Maldives, Nepal, Pakistan and Sri Lanka
It was founded in Dhaka on 8 December, 1985
The Secretariat of Association was set up in Kathmandu on 8" December, 1985
- To promote the welfare of people of South Asia
- To accelerate economic growth
- To promote and strengthen collective self-reliance among South Asian countries
- To strengthen cooperation among members in International forums on matters of common interest.
On March 11 , 2019 - Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina jointly unveiled dozen of development projects in Bangladesh.
The 4" meeting of SAARC Agricultural Ministers was held in Thimphu, Bhutan on 27'" June, 2019 for promoting cooperation in agriculture and rural development.
The 9" edition of SAARC Film Festival for the year 2019 was held at National Firm Corporation Cinema Hall, Colombo, Sri Lanka and India won 6 awards.
Best Feature Him - Nagarkirtan
Best Director - Kaushik Ganguly for Nagarkirtan
Best Actor - Riddhisen
Best Original Score - Prabuddha Bannerjee
Best Short Film - Na Bole we Harare
Special Jury Award for Direction and Story - Walking with the wind.