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.
What is Advance License Scheme?
Q 4.
Discuss the process involved in securing for exports.
Q 5.
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 6.
What is Shipping Bill?
Q 7.
What was the objective of MIGA?
Q 8.
Name the most important document of export.
Q 9.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 10.
List out major affiliated bodies of the World Bank.
Q 11.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 12.
What is the main objective of WTO?
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
Why is export promotion necessary?
Q 15.
Name the most important document used in import.
Q 16.
Define Export Processing Zones.
Q 17.
What is pre-shipment finance?
Q 18.
When was State Trading Corporation established?
Q 19.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 20.
Discuss the principal documents used in exporting.
Q 21.
Explain briefly the process of customs clearance of export goods.
Q 22.
Explain the term FOB.
Q 23.
Santa Cruz is famous for which exclusive items?
Q 24.
Write the full form of ICSID.
Q 25.
Write short note on Indent House and Dock Challan.
Q 26.
Explain the meaning of Mate's Receipt.
Q 27.
Give full form of EPZ and SEZ.
Q 28.
Why did WTO establish? What are its objectives?
Q 29.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 30.
Discuss the formalities involved in getting an export license.
Q 31.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 32.
What is a Letter of Credit? Why does an exporter need this document?
Q 33.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 34.
Which agency of World Bank provides loan to private sector of developing countries?
Q 35.
Explain the steps of export procedure.
Q 36.
Who is a clearing agent?
Q 37.
Name the certificate which is used for ensuring timely payment.
Q 38.
Why is it necessary to get registered with an Export Promotion Council?
Q 39.
How many Commodity Boards are there in India?
Q 40.
Discuss the principal documents used in exporting.
Q 41.
What is IMF? Discuss its .various objectives and functions.
Q 42.
How many regional and international offices does ITPO have?
Q 43.
Who is a clearing agent?
Q 44.
Define Mate's Receipt.
Q 45.
What is the purpose of pre-shipment finance?
Q 46.
When was IIFT formed?
Q 47.
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 48.
Discuss the process involved in securing for exports.
Q 49.
What is IEC number?
Q 50.
Discuss the procedure related to excise clearance of goods.
