Multilateral Investment Guarantee Agency (MIGA) Overview and History

Multilateral Investment Guarantee Agency (MIGA) Overview and History The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group and was established in 1988. Its main objective is to promote foreign direct investment (FDI) into developing countries by providing guarantees against political risks. MIGA’s mission is to …

Most-Favored Nations Clause: Ensuring Equal Treatment for All

Ensuring Equal Treatment for All How Does the MFN Clause Work? The MFN clause operates on the principle of non-discrimination. It prohibits any form of preferential treatment or discrimination between trading partners. Under this clause, if a country grants favorable trade terms, such as lower tariffs or preferential market access, …

Minimum Wage: Federal vs State, Exceptions, and FAQs

Minimum Wage: Federal vs State The federal minimum wage is the minimum hourly wage that must be paid to most workers in the United States. As of July 2021, the federal minimum wage is set at $7.25 per hour. However, individual states have the power to set their own minimum …

Maastricht Treaty: Definition, Purpose, History, Significance

Maastricht Treaty: Definition, Purpose, History, Significance Definition The Maastricht Treaty aimed to create a closer political and economic union among the member states of the EC. It established the EU as a supranational organization, with its own institutions and decision-making processes. The treaty also introduced the concept of European citizenship, …

Libel Meaning: Slander vs How to Prove FAQs

What is Libel and How is it Different from Slander? Libel is a form of defamation that occurs when false statements are made in written or printed form, such as in newspapers, magazines, or online publications. It is important to note that libel only applies to false statements that harm …

Kuwait Investment Authority – All You Need to Know

Kuwait Investment Authority Overview The Kuwait Investment Authority (KIA) is a sovereign wealth fund established by the government of Kuwait. With assets under management exceeding $600 billion, it is one of the largest sovereign wealth funds in the world. The KIA’s primary objective is to preserve and grow the wealth …

Kazakhstan National Fund: Its Purpose And Operations

The Importance of Kazakhstan National Fund The Kazakhstan National Fund is a vital institution for the country’s economic stability and development. It plays a crucial role in managing the revenue generated from the country’s natural resources, primarily oil and gas. The fund was established in 2000 with the aim of …

Juris Doctor (JD) Degree: Everything You Need to Know

Juris Doctor (JD) Degree: Everything You Need to Know The Juris Doctor (JD) degree is a professional graduate degree that is required to become a licensed attorney in the United States. It is the highest level of education in the field of law and is offered by law schools accredited …

International Maritime Organization IMO Definition Purpose

What is the International Maritime Organization (IMO)? The International Maritime Organization (IMO) is a specialized agency of the United Nations (UN) that is responsible for the regulation and coordination of international shipping. It was established in 1948 and has its headquarters in London, United Kingdom. The IMO’s primary goal is …

International Financial Reporting Standards (IFRS): A Comprehensive Guide

International Financial Reporting Standards (IFRS): A Comprehensive Guide The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that are used by companies around the world to prepare and present their financial statements. These standards provide a common language for …

International Chamber of Commerce (ICC) – Definition and Activities

What is International Chamber of Commerce (ICC)? The International Chamber of Commerce (ICC) is a global business organization that promotes international trade and investment. It is the largest business organization in the world, representing over 45 million companies from more than 100 countries. The ICC works to facilitate trade by …

Impeachment Meaning Overview Examples

What is Impeachment? Impeachment is a legal process through which a government official, such as a president or a high-ranking official, can be removed from office for committing serious offenses or misconduct. It serves as a check on the executive branch’s power and ensures accountability. Definition and Explanation Once the …

Hedge Fund: Definition, Examples, Types, and Strategies

Hedge Fund: Definition, Examples, Types, and Strategies A hedge fund is a type of investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, with the goal of generating high returns. Unlike traditional investment funds, hedge funds have more flexibility in their …

Group of Ten (G10) – Definition, Purpose, and Member Countries

What is the Group of Ten (G10)? The Group of Ten (G10) is an international organization consisting of ten member countries that was established in 1962. It serves as a forum for the world’s leading industrialized nations to discuss and coordinate economic and financial policies. The G10 is composed of …

Gross National Happiness (GNH) Index: Understanding the 4 Pillars

The Four Pillars of Gross National Happiness (GNH) Gross National Happiness (GNH) is a holistic approach to measuring the progress and well-being of a nation, developed by the Kingdom of Bhutan. It goes beyond the traditional economic indicators like Gross Domestic Product (GDP) and focuses on the happiness and well-being …

Great Society: Its Origins, Impact, And Frequently Asked Questions

Exploring the Historical Context and Motivations When examining the historical context of the Great Society, it is important to understand the political and social climate of the time. The Great Society was a set of domestic policies and programs introduced by President Lyndon B. Johnson in the 1960s. It aimed …

Government-Sponsored Enterprise (GSE): Definition and Examples

What is a Government-Sponsored Enterprise (GSE)? A Government-Sponsored Enterprise (GSE) is a financial institution that is created by the government to provide support to specific sectors of the economy. These entities are typically established with a public purpose in mind, such as promoting homeownership or facilitating access to credit for …

Government Shutdown: Definition, Example, Impact on Economy

Government Shutdown: Definition A government shutdown occurs when the government is unable to pass a budget or a continuing resolution to fund its operations. This means that non-essential government services and agencies are temporarily closed until a funding agreement is reached. Causes of a Government Shutdown Government shutdowns are typically …

Government Securities Clearing Corporation (GSCC) Overview

What is the Government Securities Clearing Corporation (GSCC)? The Government Securities Clearing Corporation (GSCC) is a financial institution that plays a crucial role in the government and policy sector. It is responsible for providing clearing and settlement services for government securities transactions. The GSCC acts as an intermediary between buyers …

Government Accountability Office (GAO) – History and Overview

Government Accountability Office (GAO) History of GAO The GAO has a long history dating back to the Budget and Accounting Act of 1921, which created the General Accounting Office (GAO’s predecessor). Over the years, the agency’s name and responsibilities have evolved, but its mission to support Congress in overseeing federal …