Daily News Analysis 20 June 2023

Current Affairs, Daily Current Affairs | By

Table of Contents

GS-2

  1. Refugees as assets to their new countries

Facts for Prelims

  1. International Monetary Fund (IMF)
  2. Nova Kakhovka dam
  3. National Water Awards

Refugees as assets to their new countries

Context:

World Refugee Day is a time to honor the courage and resilience of millions of individuals facing forced displacement. It serves as a reminder of our collective responsibility and the importance of welcoming refugees into our communities. This day highlights the challenges faced by refugees worldwide and emphasizes the need for empathy, engagement, and solidarity.

Honoring Courage and Resilience:

  1. Commemorates the courage and resilience of 103 million individuals affected by forced displacement due to conflicts and unrest worldwide
  2. Highlights the human stories of loss and shattered dreams behind these staggering figures

Collective Responsibility and Engagement:

  1. Reminder of our collective responsibility as global citizens
  2. Calls for engagement, empathy, and solidarity between communities
  3. Emphasizes the importance of welcoming refugees and displaced persons into our communities

Challenges of Global Conflicts:

  1. Ongoing wars in Ukraine, Myanmar, Sudan, and protracted situations in Afghanistan and Somalia present unprecedented challenges
  2. Displacement crisis extends to South and Southeast Asia, uprooting many individuals from their homes

Displacement Challenges in India:

  1. India hosts approximately 250,000 forcibly displaced persons, with women and children comprising half of the population
  2. Gracious support from the Government of India in hosting and assisting refugees deserves recognition and emulation

Refugees\’ Aspirations and Opportunities:

  1. Refugees desire opportunities, not handouts
  2. They aim to be self-reliant and contribute to the communities hosting them
  3. Examples of resilience and talent among refugee youth highlight the importance of providing opportunities and support

Dismantling Barriers:

  1. Refugees face obstacles such as legal recognition and obtaining essential documents, hindering access to services
  2. Calls for dismantling barriers and ensuring equal opportunities in employment, education, housing, and healthcare

Inclusive Society and Sustainable Development:

  1. Inclusive efforts must address the unique needs of refugee youth
  2. Engaging with and including refugee youth in the Sustainable Development Agenda is crucial

Global Compact on Refugees:

  1. Urgent moral imperative to address the rising number of forcibly displaced individuals
  2. Calls for solidarity and a whole-of-society approach
  3. Recognizes the responsibility of governments, individuals, private sector, NGOs, and community-based organizations
  4. Supports host countries, promotes self-reliance, and explores long-term solutions

Equitable Burden-Sharing:

  1. Embracing the principle of equitable burden-sharing to ensure the well-being of refugees and host communities
  2. Focus on creating a world where the potential of every refugee can be realized and where hope and opportunities abound

Shaping Future Generations:

  1. Invites individuals, private sector, and governments to support youth from refugee and host communities
  2. Aims to realize the Government of India\’s vision of \’Viksit Yuva Viksit Bharat\’

Restoring Dignity and Never Looking Away:

  1. Reaffirms commitment to stand in unison with refugees and displaced persons
  2. Acknowledges their strength, hope, and untapped potential
  3. Calls for dismantling barriers, creating opportunities, and restoring their sense of dignity

Conclusion

As we mark World Refugee Day, let us recommit ourselves to supporting refugees and displaced persons, recognizing their strength and untapped potential. By dismantling barriers, creating opportunities, and restoring their sense of dignity, we can build a world where hope and meaningful pathways thrive. Together, we can make a difference and stand united with those in need.

International Monetary Fund (IMF)

Context

Bangladesh recently announced that it will adopt the International Monetary Fund (IMF) mandated method to calculate its foreign reserves.

International Monetary Fund (IMF)

  1. Established in 1944
  2. Headquarters in Washington, D.C. (United States of America)
  3. 190 member countries, including India
  4. Any state, whether a UN member or not, can become an IMF member

Structure:

  1. Board of Governors
  2. Highest level of organization
  3. Executive Board
  4. 24 members overseeing day-to-day work
  5. Managing Director is the head and Chair of the Executive Board
  6. Assisted by four Deputy Managing Directors

Funding:

  1. Mainly funded by capital subscriptions (quotas) paid by member countries upon joining

Objectives of IMF:

  1. Foster global monetary cooperation
  2. Ensure financial stability
  3. Facilitate international trade
  4. Promote high employment and sustainable economic growth
  5. Reduce global poverty
  6. Support macroeconomic growth
  7. Provide policy advice and financing for developing countries
  8. Promote exchange rate stability and international payment system

Functions:

Lending

  1. Provides loans, including emergency loans, to member countries facing balance of payments problems
  2. Aims to help countries rebuild reserves, stabilize currencies, pay for imports, and restore economic growth
  3. Surveillance
  4. Monitors international monetary system and global economic developments
  5. Identifies risks and recommends policies for growth and financial stability
  6. Capacity Development
  7. Offers technical assistance and training to governments, central banks, finance ministries, etc.

Flagship Publications:

  1. World Economic Outlook
  2. Global Financial Stability Report
  3. Fiscal Monitor

IMF and India:

  1. India is a founding member of the IMF
  2. IMF provided loans to India during balance of payments deficits
  3. In the 1990s, India pledged gold reserves for an emergency loan
  4. India implemented structural reforms as part of IMF agreements
  5. Repaid all loans by 2000
  6. India hasn\’t taken financial assistance from the IMF since 1993
  7. Finance Minister of India is the ex-officio Governor on the IMF\’s Board of Governors
  8. RBI Governor serves as the Alternate Governor at the IMF
  9. India\’s current quota in the IMF is 2.75%

Nova Kakhovka dam

The Nova Kakhovka dam in Ukraine collapsed recently.

Kakhovka Dam and Dnipro River

Kakhovka Dam:

  1. Built in 1956 as part of the Kakhovka hydroelectric power plant
  2. Constructed during the Soviet era
  3. Located on the Dnipro River

Dnipro River:

  1. Major transboundary river in Europe
  2. Longest river in Ukraine and Belarus
  3. Fourth-longest river in Europe, after the Volga, Danube, and Ural rivers
  4. Begins in the Valdai Hills near Smolensk, Russia
  5. Flows through Belarus and Ukraine into the Black Sea

Inland sea between Eastern Europe and Western Asia

  1. Turkish straits system (Dardanelles, Bosporus, and Marmara Sea) connects the Mediterranean and Black Sea
  2. Connected to the Sea of Azov by the Strait of Kerch
  3. Borders Russia, Ukraine, Georgia, Turkey, Bulgaria, and Romania

Kakhovka Dam and Reservoir:

  1. Built on the Dnipro River as part of the Kakhovka hydroelectric power plant
  2. Creates a large reservoir known as the Kakhovka Sea
  3. Reservoir holds approximately 18 cubic kilometers of water
  4. Located in the Kherson region
  5. Left (southern) bank controlled by Russia, right (northern) bank controlled by Ukraine

Distribution and Significance:

  1. Supplies water to the Crimean Peninsula and the Zaporizhzhia nuclear plant
  2. Provides water for the cooling system of the Zaporizhzhia nuclear power plant
  3. Zaporizhzhia nuclear power plant is the largest in Europe

Importance of Kakhovka Dam:

Hydroelectric Power Generation:

  1. Generates electricity as one of its primary purposes

Water Management:

  1. Controls the flow of the Dnieper River
  2. Prevents floods during heavy rainfall
  3. Releases water during dry seasons for irrigation and agriculture

Navigation and Transport:

  1. Creates a reservoir that allows for inland navigation along the Dnieper River

Recreation and Tourism:

  1. Offers opportunities for boating, fishing, and swimming in the reservoir

Environmental Impact:

  • Alters the river\’s flow, which can have ecological consequences for the river ecosystem and its dependent species

National Water Awards

Context

Recently, the Vice President of India, conferred the 4th National Water Awards, 2022.

Launch:

  1. First National Water Award launched in 2018
  2. Organized by the Ministry of Jal Shakti

Objectives:

  1. Promote a holistic approach to water resources management in the country
  2. Create awareness about the importance of water and encourage best water usage practices
  3. Facilitate engagement and collaboration among start-ups, organizations, and individuals for water conservation and management activities

Significance:

  1. Despite having over 18% of the world\’s population, India only possesses 4% of the world\’s renewable water resources

Categories:

Ministry of Jal Shakti presents 57 awards in 11 different categories:

  1. Best State
  2. Best District
  3. Best Village Panchayat
  4. Best Urban Local Body
  5. Best Media (Print & Electronic)
  6. Best School
  7. Best Institution/RWA/Religious organization for Campus usage
  8. Best Industry
  9. Best NGO
  10. Best Water User Association
  11. Best Industry for CSR Activity

 

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