UPSC Prelims 2016 Q75: Indian Economy – International Institutions & Reports
'Global Financial Stability Report' is prepared by the
- (a) European Central Bank
- (b) International Monetary Fund
- (c) International Bank for Reconstruction and Development
- (d) Organization for Economic Cooperation and Development
Answer: (b) International Monetary Fund
Explanation
Global Financial Stability Report
The report is prepared by the International Monetary Fund (IMF).
It comes out twice a year and assesses risks to the global financial system.
| Body | Main reports |
|---|---|
| International Monetary Fund | Global Financial Stability Report, World Economic Outlook, Fiscal Monitor |
| World Bank (IBRD) | World Development Report, Global Economic Prospects |
| OECD | Economic Outlook |
| European Central Bank | Financial Stability Review (for the euro area) |
| Reserve Bank of India | Financial Stability Report (for India) |
Do not confuse the IMF's global report with the RBI's Indian report of a similar name.
Answer: (b) International Monetary Fund.
Why each option is right or wrong
- (a) Incorrect. The European Central Bank reports only on the euro area.
- (b) CORRECT. The International Monetary Fund prepares the Global Financial Stability Report.
- (c) Incorrect. The International Bank for Reconstruction and Development publishes the World Development Report.
- (d) Incorrect. The OECD publishes its Economic Outlook, not this report.
Key point
IMF publishes the Global Financial Stability Report and World Economic Outlook twice a year; RBI publishes India's Financial Stability Report.
Remember
Global Financial Stability Report = IMF.
Common mistakes
- Confusing the IMF's report with the RBI's Financial Stability Report.
- Giving it to the World Bank, which focuses on development.
- Mixing it up with the Financial Stability Board, a G20 body.
Exam tip
IMF = money and financial stability. World Bank = development.
Sources
- International Monetary Fund — Global Financial Stability Report
- Reserve Bank of India — Financial Stability Report