world organisations section 3 MCQ Questions & Answers Detailed Explanation

Answer: (a)

There are 5 veto-wielding permanent members in the United Nations Security Council—China, France, Russia, the United Kingdom, and the United States— based on the great powers that were the victors of World War II.

Answer: (c)

Term of non-permanent members in the Security Council is two-years.

Answer: (c)

The World Economic Outlook (WEO) is a survey conducted and published by the International Monetary Fund. It is published biannually and partly updated two times a year. It portrays the world economy in the near and medium context, with projections for up to four years into the future.

Answer: (a)

Secretaries-General serve for five-year terms that can be renewed indefinitely, although none so far has held office for more than two terms. The United Nations Charter provides for the Secretary-General to be appointed by the General Assembly upon the recommendation of the Security Council.

As a result, the selection is subject to the veto of any of the five permanent members of the Security Council. While the appointment and approval process of the Secretary-General is outlined in the UN Charter, specific guidelines have emerged regarding the term limits and selection process.

These include a limit to two five-year terms, regional (continental) rotation of the appointee’s national origin, and the appointee may not be a citizen of any of the Security Council’s five permanent members.

Note: Article 97 of the United Nations Charter determines that the Secretary-General is “appointed by the General Assembly upon the recommendation of the Security Council.”

As the recommendation must come from the Security Council, any of the five permanent members of the Council can veto a nomination.

António Guterres is a Portuguese politician and diplomat who is serving as the ninth Secretary-General of the United Nations. Previously, he was the United Nations High Commissioner for Refugees between 2005 and 2015.

Answer: (b)

Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily.

The IMF’s membership is divided along income lines: certain countries provide the financial resources while others use these resources. Both developed country “creditors” and developing country “borrowers” are members of the IMF.

The developed countries provide the financial resources but rarely enter into IMF loan agreements; they are the creditors.

Answer: (a)

Structural adjustments are the policies implemented by the International Monetary Fund (IMF) and the World Bank (the Bretton Woods Institutions) in developing countries.

These policy changes are conditions for getting new loans from the International Monetary Fund (IMF) or World Bank, or for obtaining lower interest rates on existing loans.

Conditionalities are implemented to ensure that the money lent will be spent in accordance with the overall goals of the loan. The Structural Adjustment Programs (SAPs) are created with the goal of reducing the borrowing country’s fiscal imbalances.