- The Uruguay round of GATT (1986-93) gave birth to World Trade Organisation. - The members of the GATT signed on an agreement of Uruguay round in April 1994 in Morocco for establishing a new organization named WTO. - It was officially constituted on January 1, 1995 which took place of GATT as an effective formal organization. - GATT was an informal organization which regulated world trade sinc...

- IBRD and its associate institutions forms a group known as the World Bank. - The Second World War damaged economies of the most of the countries particularly of those who were directly involved in the war. - The global war had completely dislocated the multilateral trade and dislocated multilateral trade and had caused massive destruction of life and property. - In 1945, it was realized to co...

INTERNATIONAL MONETARY FUND - IMF is an international monetary organisation. - It was established on December 27, 1945 in Washington on the recommendations of Bretton Woods Conference. - But it started its operation on March 1, 1947. At present 188 nations are members of the IMF. - South Sudan became the newest member in April 2012. In place of Dominique Strauss-Kahn, Christine Lagarde has bee...

ZERO COUPON BONDS : - The regular government bond has a "coupon" (interest bearing certificate) that is payable twice a year. - Interest is paid two times a year, and therefore, there are regular cash inflows. - Such bonds are normally issued at face value and the redemption value of the bond is also the face value, - The subscribers / holders to zero coupon bonds do not receive any interest d...

WHOLESALE PRICE INDEX (WPI) : - The Wholesale Price Index (WPI) is the index used to measure the change in the average price level of goods traded in wholesale market. - A total of 435 commodity prices make up the index. - It is available on a weekly basis. - It is generally taken as an indicator of the inflation rate in the makers until it was replaced by the the Producer Price Index (PPI) in...