Economic activity has rebounded in LMICs post pandemic, but the debt accumulated in that period has continued to grow, driven by both short & long-term debt.
World Bank's International Debt Report 2024 finds Afghanistan, Pakistan, Nepal, Bhutan, Bangladesh, Myanmar, Sri Lanka & Maldives together owe $324.6 bn to external lenders.
Most of these countries are located in sub-Saharan Africa & have an annual per capita income of less than $1,145. Two-thirds of these are stuck in conflict or institutional fragility.
Freebies promised during polls, subsidies, swelling wage & pension bills are adding to the debt pile of states like Himachal Pradesh & Punjab. Revenue expenditure rationalisation can help.
The full budget retains focus on fiscal consolidation. In her budget speech, finance minister mentioned the intent will be to fix fiscal deficit with debt-GDP ratio on a declining path.
RBI said India’s rising retail participation in the F&O market may pose several challenges, and the stock of household debt is 'comparatively high' in relation to GDP per capita.
The total value of imports is currently higher than that of exports in the Maldives. The Covid-19 pandemic was an external shock that jolted the country’s tourism industry.
Maldives’ external debt servicing to touch $1.07 bn in 2026. Economic realities have forced a change in tactics towards India by the ‘pro-China’ Muizzu government.
The 2024 Article IV consultation discussions have now ended with the signing of a staff-level agreement between the IMF senior mission chief and the deputy mission chief.
While Rs 13,784 crore is earmarked for agriculture, education sector gets ₹16,987 crore in 2024 budget. Another Rs 7,780 crore allocated for providing free power to households.
As devastated farmers begin to come to terms with the fallout, 4 lakh hectares of land under paddy cultivation across state is flooded. Punjab is among the biggest contributors to PDS.
Private firm had earlier bagged contracts to supply nearly $50 mn worth of ammunition from multiple friendly countries, the deliveries of which have been completed.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
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