UPSC Prelims 2014 Q99: Indian Economy – International Institutions & Reports
Which of the following organizations brings out the publication known as ‘World Economic
Outlook’?
- (a) The International Monetary Fund
- (b) The United Nations Development Programme
- (c) The World Economic Forum
- (d) The World Bank
Answer: (a) The International Monetary Fund
Explanation
World Economic Outlook
The World Economic Outlook is published by the International Monetary Fund.
It comes out twice a year (April and October), with updates in between.
| Organization | Main publications |
|---|---|
| International Monetary Fund | World Economic Outlook, Global Financial Stability Report, Fiscal Monitor |
| World Bank | World Development Report, Global Economic Prospects |
| World Economic Forum | Global Competitiveness Report, Global Gender Gap Report, Global Risks Report |
| United Nations Development Programme | Human Development Report |
| UNCTAD | World Investment Report |
Watch the similar names:
| Report | Publisher |
|---|---|
| World Economic Outlook | IMF |
| Global Economic Prospects | World Bank |
| World Economic Situation and Prospects | United Nations |
Answer: (a) The International Monetary Fund.
Why each option is right or wrong
- (a) CORRECT. The International Monetary Fund brings out the World Economic Outlook.
- (b) Incorrect. The United Nations Development Programme publishes the Human Development Report.
- (c) Incorrect. The World Economic Forum publishes the Global Competitiveness Report.
- (d) Incorrect. The World Bank publishes Global Economic Prospects.
Key point
IMF: World Economic Outlook, Global Financial Stability Report. World Bank: Global Economic Prospects. UNDP: Human Development Report. WEF: Global Gender Gap Report.
Remember
World Economic Outlook = IMF.
Common mistakes
- Choosing the World Economic Forum because of the similar name.
- Confusing 'Outlook' (IMF) with 'Prospects' (World Bank).
- Forgetting that the report appears twice a year.
Exam tip
Outlook = IMF. Prospects = World Bank. Human Development = UNDP.
Sources
- International Monetary Fund — World Economic Outlook
- World Bank — Global Economic Prospects