International Finance Project Each student selects one (or two) foreign country and its currency to work on the project.(Ideally pick one key currency and one less popular currency. Less developed countries andregions, mostly in Asian, African, South American, and eastern European countries mayhave more or unique business and investment opportunities. It will be interesting andrewarding to know their currencies, economies, financial markets and businessenvironment). You have to indicate information sources for each part of the project.Part I (five questions corresponding to five chapters):1. Country and economy overview (macro level). Please be brief (ideally less than one page andabsolutely less than two pages for each questions).1) Choose country or region of your interest (other than US or a dollarized country/region).Provide basic information about its economy. For example, level of economicdevelopment, industry sectors, comparative advantage and international trade, status andstage of globalization (membership of world organization, Fortune 500 companypresence, and major multinational firms).2) The International Monetary Fund (IMF) regularly publishes its assessment of theprospects for the world economy. Use the IMFs current analysis to form your ownexpectations of the immediate economic prospects of the country/region of your interest.(IMF regional reports and Country Reportshttp://www.imf.org/external/pubs/cat/region.asp)2. Monetary system. Please be brief (ideally less than one page and absolutely less than twopages) and bulletin points preferred.1) Exchange rate regime, for example fixed vs. floating, or more detailed classification.2) Major currency events in your countries.(For example, on July 21, 2005, the Chinese government and the Peoples Bank of Chinaofficially changed the value of the Chinese yuan (or renminbi, RMB) and also changedthe regime from fixed rate (pegged to US dollar) to basket of currencies peg. BBC basket, band, and crawl.3. Balance of Payment. Absolutely no copy and paste. Table summary preferred.1) BOP numbers. Find the most recent year BOP statistics on:a) Current Account: goods import/export, service import/export,b) Financial Accountc) Official Reserves2) The most recent 10 year BOP situation (deficit or surplus, general trends).23) The top three international trade partner (both import and export). And the top threegoods/services to be imported and exported.4) Capital mobility and capital control (can be as detailed as Exhibit 3.8 or a generaldescription)4. Business basics (micro level). This can be descriptive/ anecdotal or quantitative/analytical.Please be brief (ideally less than one page and absolutely less than two pages).1) What is the basic corporate ownership (public vs private enterprise, publically traded ornot, the role of other stakeholders: family, union, government and financial institutions,and so on).2) Which theory/model about goal of business prevails in your countries? (SWM model orSCM, or mixed?).3) Structure of corporate governance (corporate governance regimes)5. Financial Markets. Table and chart together with brief description is preferred.1) Basic currency information - official name, abbreviation, symbol, countries /regions usethe currency, and so on.2) Exchange rate to US dollar at three time points - the beginning of year 2014, 2015, and2016. Indicate the trends of exchange rate (which currency appreciated or depreciated inthe year 2014 and year 2015 period.3) The exchange rate trends in the past 8 or 10 years.