The ‘Fortaleza Declaration’, recently in the news, is related to the affairs of
- (a) ASEAN
- (b) BRICS ✓ UPSC's answer
- (c) OECD
- (d) WTO
Why the answer is (b)
• The Fortaleza Declaration was issued at the sixth BRICS summit at Fortaleza, Brazil, in July 2014, announcing the New Development Bank (USD 50 billion initial subscribed capital) and the Contingent Reserve Arrangement (USD 100 billion) — option (b).
• ASEAN (a), OECD (c) and WTO (d) hold their summits elsewhere and issued no such declaration.
• Hence option (b).
Why the other options are wrong
- (a) ASEAN
- ASEAN did not issue the Fortaleza Declaration.
- (c) OECD
- OECD did not issue it.
- (d) WTO
- WTO did not issue it.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2015, held on 23 August 2015. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.