Question:
What is IMF? Discuss its .various objectives and functions.
Answer:
The IMF, or the International Monetary Fund, came into existence in 1945 with the objective of establishing a healthy and orderly monetary system. It aimed at facilitating a system of international payments and taking care of the adjustments in exchange rates among national currencies. It is one of the three international institutions—the other two being the World Bank and the International Trade Organization—that were created for facilitating and monitoring the economic development of the world.
Objectives of the IMF
- To aid the balanced growth of international trade and market, thereby promoting the growth of employment and income;
- To promote international monetary cooperation among the member countries;
- To facilitate the orderly exchange of goods between the member countries;
- To facilitate international payments with respect to the exchange transactions between the member countries.
Functions of the IMF
- Providing short-term credit to member countries;
- Maintaining stability in the exchange rate of the member countries;
- Fixing and altering the value of a country's currency whenever required, to facilitate the adjustment of exchange rate of member countries;
- Collecting the currencies of member countries so as to allow them to borrow the currency of other nations;
- Lending foreign currency to member nations and facilitating international payments with respect to the exchange transactions between member countries.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 4.
What is Advance License Scheme?
Q 5.
Discuss the process involved in securing for exports.
Q 6.
Explain the meaning of the following documents used in connection with import transactions
- Trade enquiry,
- Import license,
- Shipment of advice,
- Import general manifest,
- Bill of entry.
Q 7.
When was State Trading Corporation established?
Q 8.
What is Shipping Bill?
Q 9.
Name the most important document of export.
Q 10.
What was the objective of MIGA?
Q 11.
What is the main objective of WTO?
Q 12.
Name the most important document used in import.
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
Define Mate's Receipt.
Q 15.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 16.
Why is export promotion necessary?
Q 17.
List out major affiliated bodies of the World Bank.
Q 18.
Which certificate is necessary to prove that goods are produced in the home country itself ?
Q 19.
Define Export Processing Zones.
Q 20.
Write the full form of ICSID.
Q 21.
When was IIFT formed?
Q 22.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 23.
Give full form of EPZ and SEZ.
Q 24.
Rekha Garments has received an order to export 2000 men's trousers to Swift Imports Ltd. located in Australia. Discuss the procedure that Rekha Garments would need to go through for executing the export order.
Q 25.
Santa Cruz is famous for which exclusive items?
Q 26.
What is pre-shipment finance?
Q 27.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 28.
Write the full form of DTA.
Q 29.
What is IEC number?
Q 30.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 31.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 32.
Name the certificate which is used for ensuring timely payment.
Q 33.
How many regional and international offices does ITPO have?
Q 34.
Explain briefly the process of customs clearance of export goods.
Q 35.
How many Commodity Boards are there in India?
Q 36.
Explain the term FOB.
Q 37.
Explain the steps of export procedure.
Q 38.
What is a Letter of Credit? Why does an exporter need this document?
Q 39.
Explain the term FOB.
Q 40.
Why is it necessary to get registered with an Export Promotion Council?
Q 41.
What is IMF? Discuss its .various objectives and functions.
Q 42.
Who is a clearing agent?
Q 43.
Which agency of World Bank provides loan to private sector of developing countries?
Q 44.
Discuss the procedure related to excise clearance of goods.
Q 45.
Who is a clearing agent?
Q 46.
What is the purpose of pre-shipment finance?
Q 47.
Discuss the process involved in securing for exports.
Q 48.
Discuss the formalities involved in getting an export license.
Q 49.
What is Performa Invoice?
Q 50.
Discuss the principal documents used in exporting.
