Q. Which of the following organizations brings out the publication known as ‘World Economic Outlook’?

  • The International Monetary Fund
  • The United Nations Development Programme
  • The World Economic Forum
  • The World Bank

Answer: (a) The International Monetary Fund

IMF:
  • The IMF is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty.
    • It was set up in 1945 out of the Bretton Woods conference.
  • Originally, the primary goal of the IMF was to bring about international economic coordination to prevent competing currency devaluation by countries trying to promote their own exports.
    • Eventually, it evolved to be a lender of last resort to governments of countries that had to deal with severe currency crises.
  • Reports by IMF:
    • Global Financial Stability Report.
    • World Economic Outlook.
      • It is a survey by the IMF that is usually published twice a year in the months of April and October.
      • It analyzes and predicts global economic developments during the near and medium term.
      • In response to the growing demand for more frequent forecast updates, the WEO Update is published in January and July, between the two main WEO publications released usually in April and October.