CA-FC-Day-83-2020-iastoppers
Flash Card

Day#83 Current Affairs Flash Cards [PRELIMS 2020]

Greta Thunberg; New Baikonur Cosmodrome; Haqqani network; Location of Azerbaijan; Nelloptodes gretae; Arrangement to Borrow (NAB); General Agreements to Borrow (GAB); Group of Ten (G10);
By IASToppers
November 04, 2019

 

 

Recently, a financial term ‘New Arrangement to Borrow’ was seen in news. What is it?

Click to View the Answer
Click to View the Question

Answer:

The New Arrangement to Borrow is a renewable funding mechanism that was started by IMF in 1998.

Enrich Your Learning:

New Arrangement to Borrow (NAB):

Why in news?

Members of the International Monetary Fund (IMF) agreed to maintain its funding at $ 1 trillion which is IMF’s overall lending capacity.

About NAB:

  • NAB became the primary fundraising facility for IMF loans when it was introduced in the late 1990s.
  • IMF deal will allow an extension of non-permanent, supplementary sources of funds such as the New Arrangement to Borrow (NAB) and bilateral borrowings from countries.
  • IMF had entered into NAB and bilateral borrowings after the 2008 financial crisis to increase its lending ability.
  • The agreement extended the bilateral borrowing facility till 2020 and a potential doubling of the NAB.
  • The NAB has 40 participants according to the IMF.

Background:

  • The NAB was first proposed in 1995 following the Mexican financial crisis. During that period, there were growing concerns that significantly more resources would be needed in future to adequately respond to economic downturns.
  • As a result, the IMF got in contact with the G-10 about developing a new financing arrangement that would double the amount available under the GAB.

What are General Agreements to Borrow (GAB)?

  • General Agreements to Borrow (GAB) was a lending medium for members of the Group of Ten (G-10).
  • Under GAB, G-10 countries deposited funds into the International Monetary Fund (IMF) for a nation in economic distress to access.

What is G10?

  • The Group of Ten (G10) is one of five “group of” groups, not to be confused the Groups of 7, 8, 20, or 24. Each of these consists of a group.
  • The G10 consists of eleven industrialized nations that meet on an annual basis or more frequently, as necessary, to consult each other, debate and cooperate on international financial matters.
  • The member countries are Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States, with Switzerland playing a minor role.
  • The G10 was established when the 10 wealthiest International Monetary Fund (IMF) member countries agreed to participate in the (GAB) General Agreements to Borrow.

 

 

Recently, a tiny beetle with no eyes and reduced wings was named after a 16-year-old famous environmental activist. What is the name of the beetle?

Click to View the Answer
Click to View the Question

Answer: Nelloptodes gretae (Activists: Greta Thunberg)

Enrich Your Learning:

Nelloptodes gretae:

Nelloptodes gretae

  • It is a tiny beetle of the Coleoptera family Ptiliidae.
  • These are also called featherwing beetles, because the hindwings are narrow and feathery
  • Nelloptodes gretae is less than 1 mm (0.03 inch) small in size.
  • It lives hidden in the soil and leaf litter.
  • It has no eyes, not needed in its dark habitat, and reduced wings, to better move around in the soil’s pores and fissures.
  • Ptiliidae are very tiny insects, but play an important role in the environment.
  • Feeding mostly on plant debris and fungi, they convert dead organic matter in new nutrients, providing sustainment for other soil organisms and higher plants.
  • The Nelloptodes gretae was named after 16-year old climate activists Greta Thunberg by researchers of the National History museum in London.

Greta Thunberg

  • She is 16-year-old Swedish environmental activists on climate change whose campaigning has gained international recognition.
  • She started “School strike for the climate” movement in 2018.
  • She is known for her blunt, straightforward speaking manner, both in public and to political leaders.
  • In September 2019, she addressed the UN Climate Action Summit in New York. She also addressed the 2018 United Nations Climate Change Conference.
  • Thunberg was nominated for the 2019 Nobel Peace Prize.

 

 

Azerbaijan is located in which region of Asia? a) Central Asia OR b) East Asia OR c) South Western Asia?

Click to View the Answer
Click to View the Question

Answer: South Western Asia

Enrich Your Learning:

Location of Azerbaijan:

  • Azerbaijan is located in south western Asia.
  • Azerbaijan is bordered by the Caspian Sea, Russia and Georgia to the north, Armenia and Turkey to the west, and Iran to the south.
  • Baku which is capital of Azerbaijan has been named “Creative City of Design” by the United Nations Educational, Scientific and Cultural Organization (UNESCO).

Location of Azerbaijan

 

 

What is ‘Haqqani’ network?

Click to View the Answer
Click to View the Question

Answer: Afghan guerrilla insurgent group

Enrich Your Learning:

Haqqani network

  • The Haqqani network (HN)is an Afghan guerrilla insurgent group using asymmetric warfare to fight against US-led NATO forces and the government of Afghanistan.
  • It was formed in early 1970s by Maulvi Jalaluddin Haqqani and his son Sirajuddin Haqqani.
  • It is an offshoot of Taliban group and is thought to be based in the town of Miramshah in Pakistan.
  • HN originally drew its ideology from Hizb-i-Islami and later from the Taliban.
  • HN is also ideologically aligned with Al Qaeda, but unlike Al-Qaeda, HN has a regional rather than a global focus. It also shares the Al-Qaeda’s goal of driving foreign military and influence out of Afghanistan permanently.
  • HN’s underlying goal in the post-2001 Afghan conflict was primarily focused on eradicating Western influence and reestablishing a Taliban rule in Afghanistan.
  • It opposes U.S.-led coalition forces, the establishment of new security forces, and the implementation of new democratic institutions.

 

 

Baikonur Cosmodrome is world’s first and largest operational space launch station. It is is located in which country? a) Russia OR b) Kazakhstan

Click to View the Answer
Click to View the Question

Answer: Baikonur Cosmodrome is located in Kazakhstan.

Enrich Your Learning:

Baikonur Cosmodrome:

  • The Baikonur Cosmodrome is a spaceport located in an area of southern Kazakhstan leased to Russia.
  • It is the world’s first and largest operational space launch facility.
  • The spaceport is located in the desert steppe of Baikonur, east of the Aral Sea and north of the river Syr Darya.
  • The spaceport is currently leased by the Kazakh Government to Russia until 2050, and is managed jointly by the Roscosmos State Corporation and the Russian Aerospace Forces.
  • It was originally built by the Soviet Union in the late 1950s as the base of operations for the Soviet space program.
  • Both Sputnik 1, the first artificial satellite, and Vostok 1, the first human spaceflight, were launched from Baikonur.
Topics
Daily Current Flash Cards 2020 Prelims 2020
Tags

Facebook

My Favourite Articles

  • Your favorites will be here.

Calendar Archive

November 2019
M T W T F S S
« Oct    
 123
45678910
11121314151617
18192021222324
252627282930