Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
The European Union (EU) has agreed Memorandum of Understanding (MoU) with eight non-EU partners to help their businesses limit the economic fallout of the coronavirus pandemic, according to the European Commission said.
As of Tuesday, MoU have already been agreed with Albania, Georgia, Jordan, Kosovo, Moldova, Montenegro, North Macedonia and Ukraine, the Commission said in a press release. Four of them, namely Kosovo, Moldova, North Macedonia and Ukraine, have formally signed the documents, Xinhua news agency reported.
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The Commission said the agreements were part of a package worth three billion euros (US $3.52 billion), which is available to ten enlargement and neighbourhood partners. Negotiations of MoU with the remaining two partners, Bosnia and Herzegovina (BiH) and Tunisia are underway.
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“Supporting our neighbours is essential during this time of crisis to keep the entire region stable,” said Valdis Dombrovskis, the Commission’s executive vice president.
The European Commission, the bloc’s executive arm, earlier was asked to explore ways to speed up the EU’s joint procurement initiatives for personal protective equipment, ventilators and testing supplies.
In May, European Commission approved a proposal by France to guarantee up to 300 billion euros ($323 billion) in state aid to ease the economic burden of the deadly virus.
According to the statement, the EU will do everything possible to support research, coordinate efforts within Europe on COVID-19, including on vaccines, and also work together with key partners in the Group of Seven and Group of 20 countries.
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