December 2016 Current Affairs

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Nauru becomes 189th member of IMF, World Bank

Nauru becomes 189th member of IMF, World Bank
15 April 2016 Current Affairs: The Republic of Nauru, a tiny South Pacific island nation in Pacific Ocean became the 189th member of the International Monetary Fund (IMF) and World Bank i.e. Bretton-Woods institutions. Nauru had applied for membership in the Washington-based IMF and World Bank in April 2014. Its initial subscription quota for IMF will be of SDR (Special Drawing rights) 2 million or about $2.81 million. It will be the second smallest member of the Fund, after Tuvalu.

Joining World Bank: The island country gains access to financial support, technical support and special expertise to deal with Pacific area issues, such as water and sanitation and disaster risk management amid the threat of climate change and rising sea levels.  Joining the IMF: Nauru can benefit from the IMF’s crisis lender’s advice on managing government finances and monetary policy. Before Nauru, the last country to join the World Bank and IMF as 188th member was South Sudan in April 2012.

Republic of Nauru :  Nauru is a tiny island country in Micronesia, northeast of Australia. It is the smallest sovereign state in the world after the Vatican City in terms of both population and area. It has a population of about 10,500 and a land area of about 8 square miles. The Australian dollar is its currency or legal tender. It had joined United Nations (UN) in 1996 as the world’s smallest independent republic.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
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September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
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26 AUG
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25 AUG
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