Question 79 from UPSC CSE 2015 - Current Affairs

Question

Which one of the following issues the 'Global Economic Prospects' report periodically?

IASCODEX · Accepted Answer

Correct Option: D. The World Bank

Strategy: Focus on the keywords 'Global Economic Prospects' to identify the report. Recall which major international financial institution is known for releasing global economic forecasts. The World Bank is directly linked to periodic global economic analysis, unlike the ADB, EBRD, or the US Federal Reserve, which have more region-specific or national scopes. This leads to selecting the World Bank.

Key Info: The 'Global Economic Prospects' (GEP) report is a key twice-yearly publication of the World Bank Group. It provides in-depth analysis of macroeconomic trends, growth forecasts, and policy challenges facing the global economy and individual regions. The report covers global and regional GDP growth, examines risks to the outlook, and discusses issues such as inflation, trade, and development challenges.

**Other Institutions and Reports**
- The Asian Development Bank (ADB) publishes region-focused outlooks like the Asian Development Outlook.
- The European Bank for Reconstruction and Development (EBRD) focuses on countries in transition in its own annual reports.
- The US Federal Reserve Bank only deals with the US economy and monetary policy.

The GEP is widely used by policymakers, economists, and financial analysts for global economic reference.

IASCODEX · Answer

Option A: The Asian Development Bank

IASCODEX · Answer

Option B: The European Bank for Reconstruction and Development

IASCODEX · Answer

Option C: The US Federal Reserve Bank