Q. Which one of the following issues the ‘Global Economic Prospects’ report periodically?

  • The Asian Development Bank
  • The European Bank for Reconstruction and Development
  • The US Federal Reserve Bank
  • The World Bank

Answer: (d) The World Bank

Notes:
  • The World Bank produces the Global Economic Prospects (GEP) twice a year, in January and June, as part of its in-depth analysis of key global macroeconomic developments and their impact on member countries.
  • The GEP provides intelligence in support of achieving development goals and is a trusted resource for member countries, stakeholders, civil organizations and researchers.
World Bank
  • It was created in 1944, as the International Bank for Reconstruction and Development (IBRD) along with the IMF. The IBRD later became the World Bank.
  • The World Bank Group is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
  • The World Bank is one of the United Nations‘ specialized agencies.
  • Members:
    • It has 189 member countries.
    • India is also a member country.
  • Major Reports:
    • Human Capital Index.
    • World Development Report.
  • Its Five Development Institutions:
    • International Bank for Reconstruction and Development (IBRD)
    • International Development Association (IDA)
    • International Finance Corporation (IFC).
    • Multilateral Guarantee Agency (MIGA)
    • International Centre for the Settlement of Investment Disputes (ICSID)
      • India is not a member of ICSID.