Indian American nominated as OECD Envoy by the US President Trump
On May 6, 2020, the US President Donald Trump appointed Indian American Diplomat Manisha Singh as his envoy to OECD (Organization for Economic Cooperation and Development).
Manisha Singh was the secretary of State for Economic and Business Affairs. She will now act as US representative to OECD. She had also served as secretary of economic growth, environment and energy.
Recently, President Trump appointed Indian American Ashok Michael Pinto as US representative to IBRD (International Bank of Reconstruction and Development). Both IBRD and International Development Association (IDA) are believed to constitute the World Bank. Apart from these there are other three significant member institutions. They are International Finance Corporation (IFC), International Centre for Settlement of Investment Disputes and Multilateral Investment Guarantee agency (MIGA)
OECD is Organization for Economic Cooperation and Development (OECD). It was founded in 1961 to improve world trade and stimulate global economic progress. India is not a member of OECD.
Why is India not a member of OECD?
According to OECD, India is still a developing country. The organization has been formed by the developed countries. India still has to accede the demands and standards set by the organization.
However, there are talks that are going on to sign agreement between India and OECD on tax cooperation. It is expected that after the agreement is finalized, there are chances for India becoming a member.
Month: Current Affairs - May, 2020
Category: International Current Affairs