of the disastrous economic policies that had contributed to the Great Depression of the 1930s.
Article I of the Articles of Agreement sets out the IMF's main responsibilities:
promoting international monetary cooperation;
facilitating the expansion and balanced growth of international trade;
promoting exchange stability;
assisting in the establishment of a multilateral system of payment
non-discretionary impacts
Discretionary fiscal stimulus
Asian Development Bank (2009a) also notes that a country's ability to withstand shocks depends on a set of variables that may either amplify or absorb them.
Countries with strong macroeconomic fundamentals would be better able to withstand or absorb shocks, and those with weak and narrower financial systems, less so.
Recently, the Greek financial crisis is hot issue in global financial market. Actually, this crisis is not today's new topic but from 2008, the effectof global financial crisis has been going on ever since. Korea also has the problem about increasing national debt affected by this crisis, so this Greek issue was concerned about in this sense. The Greek financial crisis was controlled by Greek go
is often called a "banker's bank," storing currency and coin, and processing checks and electronic payments. Reserve Banks also supervise commercial banks in their regions. Reserve Banks interact directly with banks in their Districts through examinations and financial services and bring important regional perspectives that help the entire Federal Reserve System do its job more effectively.
services sector than in industry. By contrast, growth in output and TFP in agriculture has slowed.
ⅱ) Macroeconomic policies
a) Monetary policy
8. The objectives of monetary policy in India are to maintain price stability and ensure adequate flow of credit to the productive sectors of the economy.
9. Once the inflationary pressure has risen, RBI(Reserve Bank of India) raise interest rates.