18 JULY 2015 CURRENT AFFAIRS

India and Myanmar to strengthen military ties

  • Sushma Swaraj, External Affairs Minister, and U Wunna Maung Lwin, Foreign Minister of Myanmar at the first meeting of the India-Myanmar Joint Consultative Commission (JCC) ties to strengthening the military cooperation between the two nations
  • The first meeting of the India-Myanmar Joint Boundary Working Group, with a mandate to address all outstanding boundary issues, would be held in New Delhi at the earliest
  • The two nations agreed that both governments would work to identify and remove various issues on bilateral trade
  • Investments by Indian companies in areas like ports, power, agro-industries, forest products, mining, construction industry, consumer goods, highways, oil and gas, plantation, manufacturing, hospitality and ICT would be developed

Indian-origin students help US win Math Olympiad after 21 years

  • Two Indian-origin students have helped the US win the International Mathematical Olympiad after more than 21 years
  • Shyam Narayanan, 17, and Yang Liu Patil, 18, were part of the six-member US team that won the renowned award after a gap of 21 years
  • India was ranked 37th in the competition
        International Math Olympiad
  • The International Mathematical Olympiad (IMO) is the World Championship Mathematics Competition for High School students and is held annually in a different country
  • The first IMO was held in 1959 in Romania, with 7 countries participating. It has gradually expanded to over 100 countries from 5 continents
  • The IMO Advisory Board ensures that the competition takes place each year and that each host country observes the regulations and traditions of the IMO

EU Countries Approve 7 Billion Euro Short-Term Loan to Greece

  • The EU approved a short-term loan of 7.16 billion euros ($7.8 billion) to Greece allowing it to meet a huge payment to the ECB 
  • Greece must pay the European Central Bank (ECB) a huge debt payment of 4.2 billion euros on Monday
  • The bridging loan allows Greece to clear its debt to the IMF and to repay the ECB put a fresh bailout, agreed in principal by European leaders on Monday
  • The loan will be given through the EFSM, a rescue fund set up at the time of Greece's first bailout in 2010

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