- In the new formula, variables are: gdp (40% ppp terms, 60% mkt prices), openness (international trade), forex reserve and variablity (current receipts).
- 2% of alloted share can be repaid in terms of gold,USD or SDR. 18% in terms of country’s own currency.
- Chinese renminbi was added to IMF basket in December 2015.
- The IMF has credit arrangement – GAB – General Arrangements to Borrow and NAB – New Arrangements to Borrow, as the supplementing source of financing to the major funds received through quota subscriptions of member countries.
- The World Bank Group consists of 5 agencies – IBRD, IDA, MIGA, IFC and ICSID, which were established after the ratification of Bretton Woods agreements.
- The World Bank – IBRD is an international organization owned by member governments; although it makes profits, these profits are used to support continued efforts in poverty reduction.
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