Watch: PM Modi hosts first India-Central Asia Summit, outlines 3 goals #IndiaCentralAsiaSummit #summit
https://www.youtube.com/watch?v=s2JPiQ7ZotU
https://www.youtube.com/watch?v=s2JPiQ7ZotU
YouTube
PM Modi hosts first India-Central Asia Summit, outlines 3 goals #IndiaCentralAsiaSummit #summit
#upsc #pmmodi #indiacentralasiarelations #Chabaharport
#upscimportanttopics #internationalrelationsupsc
First India-Central Asia Summit
GS Paper - 2 (International Relations)
Central Asia is central to India's vision of an integrated and stable extended…
#upscimportanttopics #internationalrelationsupsc
First India-Central Asia Summit
GS Paper - 2 (International Relations)
Central Asia is central to India's vision of an integrated and stable extended…
Today's Headlines - 25 August 2023
BRICS currency in BRICS Summit
GS Paper - 2 (International Relations)
Brazil's President called for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa.
Why does Brazil want a BRICS currency?
Brazil's president doesn't believe nations that don't use the dollar should be forced to trade in the currency, and he has also advocated for a common currency in the Mercosur bloc of South American countries.
A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session.
What do other BRICS Leaders think?
South African officials had said a BRICS currency was not on the agenda for the summit.
In July, India's foreign minister said, "there is no idea of a BRICS currency". Its foreign secretary said before departing for the summit that boosting trade in national currencies would be discussed.
Russian President Vladimir Putin said the gathering, which he attended via videolink, would discuss switching trade between member countries away from the dollar to national currencies.
China has not commented on the idea. President Xi Jinping spoke at the summit of promoting "the reform of the international financial and monetary system".
Is the US Dollar in trouble?
BRICS leaders have said they want to use their national currencies more instead of the dollar, which strengthened sharply last year as the Federal Reserve raised interest rates and Russia invaded Ukraine, making dollar debt and many imports more expensive.
Russia's sanctions-imposed exile from global financial systems last year also fuelled speculation that non-western allies would shift away from the dollar.
The objective, irreversible process of de-dollarisation of our economic ties is gaining momentum, Putin told the summit.
#upsc #news #headline #brics #currency #summit #internationalrelations #bricsnations #investment #ratefluctuations #vulnerability #lunae #economic #political #geographic #disparities #brazil #russia #india #china #southafrica #currency #mercosur #southamerican #leaders #videolink #trade #indiaforeignminister #USDOLLAR #ukraine #globalfinancial #economic
BRICS currency in BRICS Summit
GS Paper - 2 (International Relations)
Brazil's President called for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa.
Why does Brazil want a BRICS currency?
Brazil's president doesn't believe nations that don't use the dollar should be forced to trade in the currency, and he has also advocated for a common currency in the Mercosur bloc of South American countries.
A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session.
What do other BRICS Leaders think?
South African officials had said a BRICS currency was not on the agenda for the summit.
In July, India's foreign minister said, "there is no idea of a BRICS currency". Its foreign secretary said before departing for the summit that boosting trade in national currencies would be discussed.
Russian President Vladimir Putin said the gathering, which he attended via videolink, would discuss switching trade between member countries away from the dollar to national currencies.
China has not commented on the idea. President Xi Jinping spoke at the summit of promoting "the reform of the international financial and monetary system".
Is the US Dollar in trouble?
BRICS leaders have said they want to use their national currencies more instead of the dollar, which strengthened sharply last year as the Federal Reserve raised interest rates and Russia invaded Ukraine, making dollar debt and many imports more expensive.
Russia's sanctions-imposed exile from global financial systems last year also fuelled speculation that non-western allies would shift away from the dollar.
The objective, irreversible process of de-dollarisation of our economic ties is gaining momentum, Putin told the summit.
#upsc #news #headline #brics #currency #summit #internationalrelations #bricsnations #investment #ratefluctuations #vulnerability #lunae #economic #political #geographic #disparities #brazil #russia #india #china #southafrica #currency #mercosur #southamerican #leaders #videolink #trade #indiaforeignminister #USDOLLAR #ukraine #globalfinancial #economic
International Fund for Agricultural Development (IFAD)
The International Fund for Agricultural Development (IFAD), a specialised agency of the United Nations, was one of the major outcomes of the 1974 World Food Conference in Rome.
The conference was organised by the United Nations in response to the food crises of the early 1970s, when global food shortages were causing widespread famine and malnutrition.
Global Environment Facility (GEF)
Established in 1991 on the eve of the 1992 Rio Summit, the Global Environment Facility (GEF) provides grant funds to developing countries for projects and activities that aim to protect the global environment.
This is to cover areas like biodiversity, climate change, international waters, ozone depletion, land degradation, primarily desertification, deforestation and persistent organic pollutants.
African Development Bank (AfDB)
The African Development Bank Group (AfDB) comprises (i) the African Development Bank, (ii) the African Development Fund and (iii) the Nigeria Trust Fund. It was established in 1963 with membership being open only to regional countries, initially.
To mobilise external resources for the development of Regional Member Countries, AFDB extended its membership.
#UPSC #headline #news #G20 #summit #newdelhi #internationalrelations #forum #world #bank #group #system #mission #IBRD #JOBS #CORPORATE #investments #WTO
The International Fund for Agricultural Development (IFAD), a specialised agency of the United Nations, was one of the major outcomes of the 1974 World Food Conference in Rome.
The conference was organised by the United Nations in response to the food crises of the early 1970s, when global food shortages were causing widespread famine and malnutrition.
Global Environment Facility (GEF)
Established in 1991 on the eve of the 1992 Rio Summit, the Global Environment Facility (GEF) provides grant funds to developing countries for projects and activities that aim to protect the global environment.
This is to cover areas like biodiversity, climate change, international waters, ozone depletion, land degradation, primarily desertification, deforestation and persistent organic pollutants.
African Development Bank (AfDB)
The African Development Bank Group (AfDB) comprises (i) the African Development Bank, (ii) the African Development Fund and (iii) the Nigeria Trust Fund. It was established in 1963 with membership being open only to regional countries, initially.
To mobilise external resources for the development of Regional Member Countries, AFDB extended its membership.
#UPSC #headline #news #G20 #summit #newdelhi #internationalrelations #forum #world #bank #group #system #mission #IBRD #JOBS #CORPORATE #investments #WTO