QUIZ – 2017: Insights Current Affairs Quiz, 26 DECEMBER 2017

Solution: b.

MIGA’s mission is to promote foreign direct investment (FDI) into developing countries to help support economic growth, reduce poverty, and improve people’s lives.

MIGA provides non-commercial guarantees (insurance) for cross-border investments into developing countries. MIGA’s guarantees protect investors against the risks of transfer restriction (including inconvertibility), expropriation, war and civil disturbance, breach of contract, and non-honoring of financial obligations. MIGA is an insurer, not a lender (it does NOT finance projects).

Additional Information:

• MIGA’s guarantees can trigger about five times as much in FDI, says its CEO.
• The World Bank Group consists of five organizations:
  • The International Bank for Reconstruction and Development
  • The International Development Association
  • The International Finance Corporation
  • The Multilateral Investment Guarantee Agency
  • The International Centre for Settlement of Investment Disputes

https://www.miga.org/who-we-are/frequently-asked-questions/;

Source/Improvisation: http://www.thehindu.com/business/can-commit-2-bn-in-guarantees-for-india/article22277388.ece;

Solution: d.

Both sides agree that progress in bilateral relations should be guided by the Astana consensus which is that (i) at a time of global uncertainty, India-China relations are a factor of stability and (ii) India and China, in their relationship, must not allow differences to become disputes.

http://mea.gov.in/rajya-sabha.htm?dtl/28739/QUESTION+NO1287+REVIEW+OF+INDIAS+RELATION+WITH+CHINA;

Improvisation: http://www.thehindu.com/opinion/editorial/on-the-line/article22277318.ece;

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Solution: d.

In the context of South Asia, India has a certain added responsibility because India is a neighbour to all though none of the others actually share borders – except Myanmar and Bangladesh.

As a founding member of the South Asian Association for Regional Cooperation (SAARC) and as part of its ‘Neighbourhood First’ policy, deepening engagement with the countries of South Asia is a main priority for India.

http://mea.gov.in/india-and-neighbours.htm;

Improvisation: http://www.thehindu.com/news/national/parliament-panel-questions-centre-on-neighbourhood-first-policy/article22276888.ece;

Solution: d.

Self-explanatory statements.

Additional Information: Settling disputes is the responsibility of the Dispute Settlement Body (the General Council in another guise), which consists of all WTO members. The Dispute Settlement Body has the sole authority to establish “panels” of experts to consider the case, and to accept or reject the panels’ findings or the results of an appeal. It monitors the implementation of the rulings and recommendations, and has the power to authorize retaliation when a country does not comply with a ruling.

https://www.wto.org/english/tratop_e/dispu_e/dispu_body_e.htm;

https://www.wto.org/english/thewto_e/whatis_e/tif_e/disp1_e.htm;

https://www.wto.org/english/thewto_e/gcounc_e/gcounc_e.htm;

Improvisation: http://www.thehindu.com/opinion/op-ed/the-rise-and-fall-of-the-wto/article22277345.ece;

Solution: d.

Statement 1 is wrong, as China has been a member of the WTO since 2001.

Investment facilitation and e-commerce among others are new issues being brought under WTO negotiations.

http://www.thehindu.com/opinion/op-ed/the-rise-and-fall-of-the-wto/article22277345.ece;