Current Affairs Quiz - February, 2023

Notes:
Debt-for-nature swaps are financial arrangements where a fraction of a developing country’s foreign debt is waived, and in return, the country makes investments in local environmental conservation. Debt-for-nature swaps have been implemented successfully in many countries to promote environmental conservation. However, they are not seen as a long-term solution since only small portion of the debt is waived off.

Notes:
World Pangolin Day is celebrated on the third Saturday in February, which aims to raise awareness about these unique mammals.
International non-profit organisation TRAFFIC has released a fact sheet on the eve of World Pangolin Day. It reported that 1,203 pangolins have been found in illegal wildlife trade in India from 2018 to 2022. The pangolin scales are used as an ingredient in traditional medicine in China and Southeast Asia.

Notes:
The Hwasong-15 intercontinental ballistic missile (ICBM) has been recently launched at Pyongyang International Airport, in North Korea.
South Korea alleged that North Korea could test-fire intercontinental ballistic missiles on a lower, longer trajectory and conduct its seventh nuclear test this year. North Korea has so far conducted ICBM tests only on lofted trajectories.

Notes:
Rann Utsav was conceptualised as a three-day festival, which progressively evolved into a 100-day celebration at Dhordo, a village near Rann of Kutch.
A whole new tent city has been created, replete with temporary infrastructure built and rebuilt every year. The Vice President Jagdeep Dhankhar arrived in Kutch, Gujarat  and participated in the Rann Utsav. It celebrates the nature at the White Desert and the rich cultural and artistic heritage of Kutch.

Notes:
First loss default guarantee (FLDG) arrangement allowed fin-tech companies to provide a guarantee to compensate for up to a certain percentage of default in a loan portfolio.
The RBI has banned the FLDG arrangement under its digital lending guidelines due to concerns regarding fin-techs taking on default risks without regulation. Fintech lenders are exploring alternative business models.

Notes:
Mpox virus is an orthopoxvirus that causes monkeypox or mpox, a disease that has symptoms similar to smallpox but less severe.
This pathogen is deadly in 15 percent of affected people and it was largely confined to Africa. A severe form of this virus has been found in immunosuppressed people living with the advanced stage of HIV.

Notes:
Phosphor-gypsum, a by-product of fertilizer production, is composed of gypsum but is weakly radio-active due to naturally occurring uranium and thorium.
It is not commonly used in construction due to concerns about its radioactivity, resulting in indefinite storage. The NHAI is exploring the possibility of using phosphor-gypsum waste material in the construction of national highway and achieve circular economy. An Indian fertilizer company recently constructed a road using the neutralised phosphor-gypsum waste material.

Notes:
Canada’s super pigs have been recently spotted in the United States. These non-indigenous species cause major damage to the North American region by spreading diseases and eating away the crops.
Super pig came as a result of the cross-breeding of domestic pigs and wild boars. It is highly intelligent and elusive. The crossbreed was created to help pigs withstand the subzero temperature in Canada.

Notes:
Lake Garda, which is famed for its clear waters, is situated in northern Italy. The historically low waters of Lake Garda caused by a winter drought have led to an unusual phenomenon of a sand and stone causeway appearing to connect a small island to the mainland.
The decline in water levels is attributed to the warm temperatures, lack of rain in six weeks, and declining snow in the surrounding mountains.

Notes:
The Poverty Reduction and Growth Facility (PRGF) is a division of the International Monetary Fund (IMF) that provides financial assistance to the world’s most impoverished countries.
It was established in 1999, to replace the Enhanced Structural Adjustment Facility. The IMF recently sought urgent action from the international community to strengthen the global financial architecture, including global financial safety net and the debt resolution.