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