Findings are of relevance for RBI, which has followed inflation targeting policies since 2016 but had to write to govt in December 2022 explaining why inflation had overshot target.
The President said the dire economic situation in Sri Lanka has affected every field like education & health, stressing on his debt restructuring program to help the collapsed economy.
Kristalina Georgieva, first person from an emerging market economy to head IMF, told debt relief was critical for heavily indebted nations to avoid cuts in social services & other repercussions
IMF blamed the darker outlook caused by persistently high inflation, weak growth in China, and ongoing supply disruptions and food insecurity caused by the Russia-Ukraine war.
The IMF in July had projected a gross domestic product growth of 7.4 per cent in the year starting April 2022. In January, it had predicted 8.2 per cent.
Economists have warned the IMF aid could prove inadequate to avert a default crisis, unless Pakistan secures additional external financing it expects from West Asian partners.
India did poorly in 1st pandemic year, but achieved among the fastest recoveries. But since global environment is less than hospitable, the optimism should be tinged with some caution.
IMF’s World Economic Outlook has flagged concerns about a global recession. This should worry US & advanced economies but probability of recession in India seems low.
The world watched aghast as police armed with tasers, tear-gas masks—and in one case backed up by snipers—arrested hundreds of pro-Palestinian protesters at universities across the United States.
Germany’s erstwhile Christian Democratic Union govt, led by Angela Merkel, prevented sale of small arms to police forces in states they perceived had ‘bad human rights record’.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
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