Daily Current Affairs for CA Foundation — 25 May 2026

Exam-ready economy and business knowledge for CA Foundation Paper 4. Today's focus: the major international economic organisations — frequently tested in Business & Commercial Knowledge. Each item ends with a practice MCQ.

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1. IMF, World Bank and WTO

• International Monetary Fund (IMF): set up at the Bretton Woods Conference, 1944; headquartered in Washington, D.C.; promotes monetary cooperation and helps members with balance-of-payments problems.
• World Bank (IBRD): also from Bretton Woods, 1944; provides long-term finance for development projects.
• World Trade Organization (WTO): established on 1 January 1995 (successor to GATT); headquartered in Geneva; sets the rules of international trade.

MCQ: Q1. The World Trade Organization (WTO) was established in:

• (a) 1944
• (b) 1948
• (c) 1995
• (d) 2001

Answer: (c) 1995

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2. IMF vs World Bank — the Difference

A common exam trap: the IMF focuses on short-term monetary stability and balance-of-payments support, while the World Bank focuses on long-term economic development lending. Both originated at Bretton Woods in 1944.

MCQ: Q2. Which institution primarily assists member countries facing balance-of-payments difficulties?

• (a) World Bank
• (b) WTO
• (c) IMF
• (d) ADB

Answer: (c) IMF

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One-Liner Revision Section

1. IMF & World Bank: born at Bretton Woods, 1944.
2. IMF: short-term monetary stability / BoP support; HQ Washington, D.C.
3. World Bank: long-term development finance.
4. WTO: 1995, successor to GATT; HQ Geneva; rules of world trade.

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