Cross-border payments have faced challenges over high cost, speed of transactions, and security. UPI going global promises to be cost-effective and make international payments more accessible. It’s imperative to build a global network on the lines of SWIFT so that UPI’s global adoption is shielded against real-time errors and fraud.
Pakistan’s mini-budget will get it IMF bailout but govt will struggle with long-term reforms
Facing furious opposition criticism—and resistance from within the ruling coalition—Pakistan’s government has passed a mini-budget that should get it a badly-needed IMF bailout. The breadth of political opposition, though, shows the government will struggle as it seeks to implement long-term reforms like reducing power sector debt and privatising State-owned industries.