The prospects of the economy generating the resources to discharge the obligations that must be defrayed soon do not look good. It could transmute into a declaration of default.
Around 130 countries attended virtual 'Voice of Global South Summit' Friday. People-centric development finance, inclusive and sustainable energy transition also among takeaways.
IMF chief Kristalina Georgieva also added that such assistance would be particularly important against the backdrop of high interest rates and currency depreciation.
The global economy will have to face the knock-on effects of the Covid crisis, while geopolitical stability will be critically fragile over the next 5-10 years.
India’s situation is contrary to global markets where junk bond sales are thriving after monetary authorities said they would buy such securities directly.
Govt says digital payments also uplift under-served communities by providing them financial footprint that can be used to assess credit worthiness in absence of traditional documents.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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