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Organisation for Economic Cooperation and Development

  • IASbaba
  • March 18, 2022
  • 0
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Organisation for Economic Cooperation and Development

Part of: Prelims and GS-II International Relations

Context: Organisation for Economic Cooperation and Development has estimated that The Ukraine crisis could knock more than a percentage point off global growth this year and add two-and-a-half percentage points to inflation.

  • It has called for targeted government spending increases in response.
  • Well-targeted increases in government spending by OECD countries of the order of 0.5% of GDP could reduce the war’s economic impact by about half without significantly adding to inflation.

Organisation for Economic Cooperation and Development

  • The OECD is an intergovernmental economic organisation, founded to stimulate economic progress and world trade.
  • Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
  • Founded: 1961.
  • Headquarters: Paris, France.
  • Members: 38 countries
    • India is not a member, but a key economic partner.
  • Reports and Indices by OECD
    • Government at a Glance 2017 report.
    • International Migration Outlook.
    • OECD Better Life Index.

News Source: TH

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