PM Modi, Cyprus President Nikos Christodoulides hold bilateral meeting

Critical minerals are essential for modern technologies and clean energy, but many countries, including India, depend on imports for several of them. To strengthen supply chains, India has joined international partnerships and reformed mining laws. ✅ Statement I: Correct India joined the Minerals Security Partnership (MSP) in 2023 to ensure reliable access to critical minerals. ❌ Statement II: Incorrect India is not resource-rich in all 30 critical minerals it has identified and remains import-dependent for several, like cobalt and nickel. ✅ Statement III: Correct In 2023, Parliament amended the Mines and Minerals Act, giving the Central Government power to auction leases for critical minerals.

Pair 1 is incorrectly matched. China has not established any permanent military base in Chad. Pair 2 is correctly matched. Guinean special forces staged a coup, captured President Alpha Conde, replaced governors with the military, and dissolved the constitution and National Assembly. Pair 3 is correctly matched. Lebanon has been experiencing a severe and prolonged economic depression since 2019, driven by political instability, inadequate reforms, and systemic corruption. The economic crisis has affected approximately 74% of the population. Pair 4 is correctly matched. Tunisian President Kais Saied dissolved the suspended parliament after lawmakers held an online meeting and voted to repeal presidential decrees. He called it a failed coup attempt.

The Digital Single Market Strategy refers to an initiative by the European Union (EU) that aims to create a unified digital market across all member states. Overall, the Digital Single Market Strategy aims to stimulate growth in the European digital economy by fostering innovation, competition, and consumer confidence in the online marketplace.

The 'Global Financial Stability Report' is prepared by the International Monetary Fund (IMF). The Global Financial Stability Report is a semiannual report published by the IMF that assesses the stability of the global financial system and emerging market financing. It highlights potential risks and vulnerabilities in the financial system and provides policy recommendations to promote financial stability.

Statement 1 is Correct: The International Monetary and Financial Committee (IMFC) serves as a vital forum for discussing global economic issues and providing guidance to the International Monetary Fund (IMF). It brings together finance ministers, central bank governors, and other high-level officials from member countries to discuss challenges and opportunities facing the global economy. They also advise the IMF on its policy direction and work program. Statement 2 is Correct: The World Bank, while a separate institution, collaborates closely with the IMF. While not a formal member of the IMFC, the World Bank typically participates as an observer in IMFC meetings. This allows for better coordination and exchange of information between the two institutions on matters of mutual interest, such as global economic stability and development. Hence, option C is the correct answer.

In the context of the International Monetary Fund (IMF), "Gold Tranche" (also referred to as "Reserve Tranche") refers to a specific portion of a member country's quota that can be accessed under specific conditions. Here's a breakdown International Monetary Fund (IMF): An international organization that works to promote global financial stability and economic cooperation. Quota: The amount of financial resources a member country is obligated to contribute to the IMF. This contribution is based on the country's economic size and importance in the global trade system. Reserve Tranche: The first 25% of a member country's quota that can be accessed without needing IMF approval or paying any interest or service charges. It's essentially a readily available credit line. Hence, option D is the correct answer.

The International Bank for Reconstruction and Development (IBRD) is a key arm of the World Bank Group, originally created for post-war reconstruction and now focused on development in middle-income nations. ✅ Statement I: Correct The IBRD provides loans and guarantees to middle-income and creditworthy low-income countries. ❌ Statement II: Incorrect The IBRD does not work single-handedly; it collaborates with other arms of the World Bank Group like IDA, IFC, etc. ✅ Statement III: Correct It was established in 1944 to help Europe rebuild after World War II.

The Broad-based Trade and Investment Agreement (BTIA) is negotiated between India and the European Union (EU).

Statement 1 is correct: The Trade-Related Investment Measures (TRIMS) agreement under the World Trade Organization (WTO) prohibits quantitative restrictions on imports by foreign investors. This means that countries cannot impose conditions like mandatory local sourcing or trade-balancing requirements that distort free trade. Statement 2 is incorrect: TRIMS only applies to trade in goods, not services. The regulation of trade in services falls under the General Agreement on Trade in Services (GATS), not TRIMS. Statement 3 is correct: TRIMS is not directly concerned with the regulation of foreign investments. Instead, it focuses on investment measures that affect trade in goods, ensuring that they do not create barriers to international trade. Hence, option C is the correct answer.

* Statement I is correct In 2021, Switzerland exported $86.7B in Gold, making it the 1st largest exporter of Gold in the world. Switzerland is consistently the world's leading gold-exporting country based on value. (Please note: The list is dynamic & keeps varying yearly) * Statement II is not correct. The United States is way out in front as the country with the largest gold reserves in the world at 8,000 tonnes (as of 2024). * In India, the largest resources of gold ore (primary) are located in Bihar (44%) followed by Rajasthan (25%), Karnataka (21%), West Bengal (3%), Andhra Pradesh (3% ), Jharkhand (2 %). The remaining 2% resources of ore are located in Chhattisgarh, Madhya Pradesh, Kerala, Maharashtra and Tamil Nadu. (PIB 2021) * India is one of the largest gold importers, sourcing 800-1,000 tons annually, mainly from Switzerland, the UAE, and South Africa. Imports are driven by high domestic demand for jewelry and investment. Gold exports, primarily in jewelry, target the US, UAE, and Hong Kong, supporting India's trade through its jewelry manufacturing sector.