Read the following passage and answer the questions given at the end as briefly as possible into 2 lines each):
“Heads of Government attending the London Economic Summit will have no excuses if they fail to curb the level of arms exports. A new definitive study by the International Monetary Fund, not generally known for its liberal views, makes it plain that high levels of arms spending in some developing countries have retarded social programmes, economic development projects and the private sector, the latter being an issue with which the seven richest market economies can identify.
The IMF, however, picks out 10, consistent offenders among developing countries which spend more than 15 percent of their GDP on the military, they are: Israel, Angola, Oman, Yemen, Jordan, Saudi Arabia, Iraq, Syria, Egypt and Libya. Employing some unusually forceful language the Fund says, High levels of military expenditure certainly led to low growth and domestic economic hardship in some countries by diverting fund from social programmes, economic development projects and the private- sector”.
The study poses a couple of other serious problems for the summiteers. It shows for instance, that military expenditure is very sensitive to financial constraints. Thus, if countries are deprived of resources, then they are forced to cut back on armaments:

1. What are the heads of Government doing at the summit?
Heads of Government came together at the summit to take actions to curb the arms exports.

2. What are the findings of the new study?
A new study by the International Monetary Fund claims that developing countries who face problems in social welfare projects, economic development, and private sector are those who spend heavily on arms.

3. How does military expenditure affect domestic economy of a country and in what ways?
Military expenditure diverts the much-needed funds from the domestic economy of a country. If these funds were directed to the domestic economy, then it would financially contribute towards economic development projects, social welfare programmes, and the private sector.

4. What is the relationship between military spending and economic growth?
The higher the military expenditure the lower the economic growth and higher the domestic economic hardship.

5. How is military expenditure related to resources?
The military expenditure is very susceptible to budgetary constraints. Thus, if the government are bereft of resources, then they would be forced to roll back their spending on weapons.