Tag: commerce

Objectives of IDA are:

1. To provide development finance on easy terms to less developed member countries.

2. To promote economic development, increase productivity and thus, raise the standards of living in the underdeveloped areas.

The following are the principal objectives of the IDA:

1. To extend macro economic management services.

2. To provide development finance on easy terms to less developed member countries.

3. To promote economic development, increase productivity and thus, raise the standards of living in the underdeveloped areas

A nation can borrow foreign currency from the IMF. IMF is a short term credit institution i.e the money borrowed from the IMF has to be returned in a short period of time.

The major institutions that offer assistance to exporters are the commercial banks that provide loan to these exporters at a very nominal rate and the Export Credit and Guarantee Corporation (ECGC) which was set up in 1957 by the Ministry of Commerce, Government of India to provide export credit insurance support to Indian exporters. 

The major outcome of the Bretton woods conference was the establishment of the International Monetary Funds (IMF) and International Bank for Reconstruction and Development (IBRD)

The objectives of Intentional Monetary Funds are to ensure the balanced international trade, to finance productive efforts according to peace-time requirement, to ensure stability of foreign exchange. To promote international monetary cooperation is not an objective of IMF. 

The International Monetary Funds came into existence in 1945 as the Bretton Woods Conference with emergence of the World Bank.