The Indian Mountaineering Foundation (IMF) has posthumously conferred the prestigious Nain Singh-Kishan Singh Lifetime Achievement Award on former Border Security Force (BSF)
Under the Extended Funding Facility (EFF) $7 billion bailout programme for Pakistan, it was agreed that a progress review would be done every six months.
A recent IMF report offers key insights for India amid an increasingly debt-laden global economy.
The recent IMF report presents a mixed picture of the global economy: the immediate threat of recession has receded, and inflation is gradually stabilising, yet a new alarm has been sounded on the surging levels of global debt.
The level of uncertainty surrounding the global economic outlook is high, the report noted on Tuesday
A new generation of policymakers is at the helm, lacking in crisis management experience. Even though they have had to deal with the situation from a handicapped position due to the unfavourable external environment, some of their actions (and a lot of their inaction) has compounded the effects of the crisis on markets and investors.
The IMF and Pakistan reached a staff-level agreement last week that they hoped would stabilise the country’s economy and depreciating currency.
One of the conditions that would be attached to the loan is the withdrawal of subsidies on fuel, electricity and fertilisers.
Depleting reserves, a widening current account deficit and the rupee’s depreciation against the dollar have left the nation facing a balance-of-payments crisis.
Thus, the main task of the Central Bank is to stop hyperinflation. As inflation increases it is mainly the poor, pensioners, and those with fixed incomes that will be most affected, he said.
