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International Economic Organisations — GK Questions with Answers

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26 questions
  1. India is a member of which of the following — 1. the Indian Ocean Rim Association (IORA) 2. the Organisation for Economic Co-operation and Development (OECD) — (IAS, 2009)
    1. Only 1
    2. Only 2
    3. Both 1 and 2
    4. Neither 1 nor 2
    Show answer

    Answer: (A) Only 1

    India belongs to IORA, but not to the OECD, which has 38 members and does not include India.

  2. Which of the following statements about the IMF is correct — (IAS, 2011)
    1. It can grant loans to any country
    2. It can grant loans only to developing countries
    3. It can grant loans only to member countries
    4. It can grant loans only to the central bank of a country
    Show answer

    Answer: (C) It can grant loans only to member countries

    The IMF can lend only to its own member countries, to help them deal with balance-of-payments problems.

  3. Where is the headquarters of the World Trade Organisation (WTO) — (UPPCS, 2011)
    1. Doha
    2. Geneva
    3. Rome
    4. New York
    Show answer

    Answer: (B) Geneva

    The WTO is headquartered in Geneva, Switzerland.

  4. "Gold Tranche" (Reserve Tranche) refers to — (IAS, 2020)
    1. A lending system of the World Bank
    2. An operation of a central bank
    3. A credit system of the WTO
    4. A credit system the IMF grants to its members
    Show answer

    Answer: (D) A credit system the IMF grants to its members

    It is the amount a member can draw from its own quota, any time, with no conditions and no fee.

  5. Which statement about the Asian Infrastructure Investment Bank (AIIB) is correct — (IAS, 2019)
    1. It has more than 80 member nations
    2. India is its largest shareholder
    3. It has no members from outside Asia
    4. It is headquartered in Manila
    Show answer

    Answer: (A) It has more than 80 member nations

    AIIB has over 100 members; its largest shareholder is China, not India, and it does have members from outside Asia too.

  6. Which statement about Purchasing Power Parity (PPP) is correct — (IAS, 2019)
    1. The PPP exchange rate is worked out by comparing the price of the same basket of goods and services across countries
    2. In PPP dollar terms, India is the sixth largest economy in the world
    3. Both 1 and 2 are correct
    4. Neither 1 nor 2 is correct
    Show answer

    Answer: (A) The PPP exchange rate is worked out by comparing the price of the same basket of goods and services across countries

    Statement 1 describes the PPP method correctly; in PPP terms, India ranks third largest, not sixth.

  7. Which was not one of the sub-indices in the World Bank's Ease of Doing Business Index — (IAS, 2019)
    1. Maintaining law and order
    2. Paying taxes
    3. Registering property
    4. Dealing with construction permits
    Show answer

    Answer: (A) Maintaining law and order

    The 10 sub-indices covered starting a business through to resolving insolvency; law and order was never one of them.

  8. The Global Competitiveness Report is published by — (IAS, 2019)
    1. The International Monetary Fund
    2. UNCTAD
    3. The World Economic Forum
    4. The World Bank
    Show answer

    Answer: (C) The World Economic Forum

    The World Economic Forum has published this ranking every year going back to 2004.

  9. India enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999, to meet its obligations to — (IAS, 2018)
    1. The International Labour Organisation (ILO)
    2. The IMF
    3. UNCTAD
    4. The World Trade Organisation (WTO)
    Show answer

    Answer: (D) The World Trade Organisation (WTO)

    Article 22 of the WTO's TRIPS Agreement recognises geographical indications, and India's Act complies with that.

  10. Which statements about "IFC Masala Bonds" are correct — 1. The IFC, which offers these bonds, is an arm of the World Bank 2. They are rupee-denominated bonds that are a source of debt financing for the public and private sectors — (IAS, 2016)
    1. Only 1
    2. Only 2
    3. Both 1 and 2
    4. Neither 1 nor 2
    Show answer

    Answer: (C) Both 1 and 2

    Both are correct; the IFC issued the first masala bonds in 2013.

  1. The "World Economic Outlook" is published by — (IAS, 2014)
    1. The International Monetary Fund
    2. The United Nations Development Programme
    3. The World Economic Forum
    4. The World Bank
    Show answer

    Answer: (A) The International Monetary Fund

    It is an IMF report, published twice a year, forecasting economic numbers for over 180 countries.

  2. Which two bodies grew out of the Bretton Woods Conference
    1. The IMF and the WTO
    2. The IMF and the World Bank (IBRD)
    3. The World Bank and the WTO
    4. UNCTAD and the IMF
    Show answer

    Answer: (B) The IMF and the World Bank (IBRD)

    The conference gave birth to the IMF and the reconstruction-development bank (today's World Bank); the WTO came much later, in 1995.

  3. How are votes decided in the IMF
    1. Equal votes based only on membership
    2. Only on the basis of quota
    3. Equal basic votes plus one extra vote for every SDR 1,00,000 of quota
    4. Only on the basis of population
    Show answer

    Answer: (C) Equal basic votes plus one extra vote for every SDR 1,00,000 of quota

    Both parts count — a small equal share from membership, and a larger share from quota.

  4. When did India fully repay its IMF debt
    1. 15 August 1991
    2. 31 May 2000
    3. 1 January 1995
    4. 27 December 1945
    Show answer

    Answer: (B) 31 May 2000

    India repaid its IMF debt on 31 May 2000; since then India is a contributor, not a borrower.

  5. What is the difference between the IBRD and the IDA
    1. They are the same
    2. The IBRD lends at interest, the IDA lends interest-free
    3. The IDA lends at interest, the IBRD lends interest-free
    4. Both lend only to private companies
    Show answer

    Answer: (B) The IBRD lends at interest, the IDA lends interest-free

    The IBRD partners with middle-income and creditworthy poorer economies, while the IDA reaches the very poorest ones, lending without charging interest.

  6. Which body offers conciliation and arbitration for investment disputes
    1. ICSID
    2. MIGA
    3. IFC
    4. UNCTAD
    Show answer

    Answer: (A) ICSID

    ICSID was set up in 1966 under the Washington Convention, and its Administrative Council is chaired by the World Bank's President.

  7. Which is the WTO's highest level, and how often does it meet
    1. The General Council, every year
    2. The Ministerial Conference, every 2 years
    3. The Council for Trade, every 4 years
    4. A subsidiary body, every year
    Show answer

    Answer: (B) The Ministerial Conference, every 2 years

    The Ministerial Conference is the WTO's highest body, and it meets every 2 years.

  8. In the Agreement on Agriculture, which "box" holds direct farmer support tied to production-limiting schemes
    1. Green box
    2. Amber box
    3. Blue box
    4. S&D box
    Show answer

    Answer: (C) Blue box

    Blue box subsidies are tied to schemes that limit production, which is why they carry no upper limit.

  9. In which year was UNCTAD founded, and how often does its highest forum meet
    1. 1964; every 4 years
    2. 1995; every 2 years
    3. 1947; every year
    4. 1944; every 5 years
    Show answer

    Answer: (A) 1964; every 4 years

    UNCTAD was founded in 1964, and its conference is quadrennial — held every 4 years.

  10. Where is the ADB headquartered, and which country traditionally gives it its President
    1. Manila; Japan
    2. Beijing; China
    3. Shanghai; India
    4. Washington; the USA
    Show answer

    Answer: (A) Manila; Japan

    The ADB is headquartered in Manila, and its President traditionally comes from Japan — the current one is Masato Kanda.

  1. Who is AIIB's largest shareholder
    1. India
    2. China
    3. Russia
    4. Japan
    Show answer

    Answer: (B) China

    China is AIIB's largest shareholder (about 26.6% of the vote), even though India is also a large shareholder.

  2. Which country proposed the NDB (the BRICS Bank), and when
    1. China, in 2014
    2. India, in 2012
    3. Russia, in 2009
    4. South Africa, in 2013
    Show answer

    Answer: (B) India, in 2012

    India put forward the idea at the 4th BRICS summit in Delhi in 2012; the bank's headquarters is in Shanghai.

  3. When, and at which summit, was the African Union made a permanent member of the G20
    1. 2024, at the Rio summit
    2. 2023, at the New Delhi summit
    3. 2025, at the Johannesburg summit
    4. 1999, when the G20 was founded
    Show answer

    Answer: (B) 2023, at the New Delhi summit

    Under India's 2023 presidency, the African Union was made a permanent member at the New Delhi summit.

  4. Which countries became full members of BRICS in 2024-25
    1. Pakistan, Bangladesh
    2. Egypt, Ethiopia, Iran, the UAE, Indonesia
    3. Japan, South Korea
    4. France, Germany
    Show answer

    Answer: (B) Egypt, Ethiopia, Iran, the UAE, Indonesia

    With these five joining, BRICS's full membership rose to 10.

  5. Which five countries founded OPEC
    1. Saudi Arabia, the UAE, Qatar, Oman, Bahrain
    2. Iran, Iraq, Kuwait, Saudi Arabia, Venezuela
    3. Algeria, Libya, Nigeria, Angola, Gabon
    4. Russia, Kazakhstan, Iran, Venezuela, Iraq
    Show answer

    Answer: (B) Iran, Iraq, Kuwait, Saudi Arabia, Venezuela

    At the Baghdad Conference of September 1960, Iran, Iraq, Kuwait, Saudi Arabia and Venezuela founded OPEC together.

  6. When and where was SAARC's last summit held
    1. 2016, Islamabad
    2. 2014, Kathmandu
    3. 2021, New Delhi
    4. 2009, Yekaterinburg
    Show answer

    Answer: (B) 2014, Kathmandu

    The 2014 Kathmandu summit is the last one held; the 2016 Islamabad summit was cancelled after the Uri attack.

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