1. International Labour Organization (ILO) Introduction The International Labour Organization (ILO) is a specialized agency of the United Nations (UN) that deals with labour issues, employment rights, and social justice. It was established in 1919 as part of the Treaty of Versailles, making it one of the oldest international organizations still active today. The ILO…
Introduction In the era of globalization and interconnected economies, the smooth functioning of global finance and trade depends on cooperation among international institutions. Various organizations work to ensure economic stability, promote transparency, and strengthen financial systems across nations.Among these, the Organization for Economic Co-operation and Development (OECD), Bank for International Settlements (BIS), Financial Stability Board…
Introduction In the modern globalized world, international cooperation has become essential to address complex economic, political, and environmental challenges. Nations are interconnected through trade, finance, energy, and diplomacy. To promote stability, growth, and mutual understanding, several international organizations have emerged. Among these, the Group of Twenty (G20), Group of Eight (formerly G7), Organization of Petroleum…
Introduction Foreign exchange and exchange rate systems are central to the functioning of modern economies in an interconnected world. They determine the value of a country’s currency in relation to others, directly affecting trade, investment, capital flows, tourism, and economic stability. For a developing economy like India, foreign exchange management and exchange rate policy are…
Introduction Money, in any form, is not merely a medium of exchange—it is also a matter of trust. For centuries, societies have struggled to decide what should serve as “money”: gold, silver, coins, or paper backed by governments. In the modern world, no currency has held greater power, acceptance, and trust than the United States…
Introduction Globalization refers to the process of increasing interconnectivity and interdependence among countries and regions through the exchange of goods, services, technology, and culture. Over the last few decades, globalization has become a driving force behind many economic, social, and political changes. While it has contributed to global economic growth and poverty reduction, it has…