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