The disease ripping through the country is only one of the destructive forces affecting the lives of hundreds of millions of Indians. The dramatic increase in hunger is another. Like devastation wrought by the current surge in coronavirus infections, this…
With rising non-financial corporate debt and evidence of elevated borrowing levels among non-bank financial companies, the fragility resulting from excess leverage has returned to haunt developed country financial markets. The fact that the collapse of a little-known family office firm…
The finance minister’s Budget speech 2021 revealed the government’s plans to establish an Asset Reconstruction Company to take over bad debt from the books of public sector banks for eventual disposal. That suggests that the ARC route rather than recapitalisation would in…
It is the second year running in which the IMF and the World Bank have been forced by the Covid pandemic to hold their annual Spring Meetings online. But this time there was slight cause for optimism. Signs of a…
It is by now a much-repeated story. Despite the devastation wrought by the Covid-19 pandemic, punters in global financial markets have had a field day. If there is one location where the pandemic has not been able to wreck damage,…
In an important new paper (“External balance sheets of emerging economies: low-yielding assets, high-yielding liabilities”, Review of Keynesian Economics, Vol. 9 No. 2, Summer 2021, pp. 232–252) the Turkish economist Yilmaz Akyuz has identified new channels of transmission of global…
Forced by the 1997 Southeast Asian crisis to recognize the external vulnerabilities that openness to volatile capital flows result in and upset over the post-crisis policy responses imposed by the IMF, countries in the sub-region saw the need for a…
The People’s Bank of China’s network of local currency swap arrangements provide Asian countries with a much-needed safety net, while also strengthening China’s diplomatic position. For full article Click here (This article was originally published in The Institute for New…
For quite some time, China was seen as a ‘threat’ by virtue of being a global manufacturing hub, embedding knowledge in production and riding on its cheap labour force and large volumes of foreign investment, to win a disproportionate share…
With President Joe Biden having put through Congress and signed a $1.9 trillion American Rescue Plan, the world is set to experience one of the biggest fiscal boosts of recent times, larger than that resorted to in response to the…
