In mid-June, the National Company Law Tribunal (NCLT) approved a resolution plan for the Rs. 35,000 crore non-performing debt of Videocon Industries. The plan was a successful offer made by Twin Star Technologies, a Vedanta group company, and accepted by…
When the pandemic first swept across the globe and destroyed economies in its wake, there were at least some expressions of international solidarity among leaders of the rich countries. External debt problems were widely recognised to be inevitable in the…
With India experiencing a severe second wave of the Covid-19 pandemic, forcing decentralized lockdowns, a crisis of loss of jobs and livelihoods and resulting hunger is being reported from across the country. A reluctant central government has, therefore, been forced…
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…
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…
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…
Having recovered from their lows touched early or mid-2020, food prices are rising fast. At $574.8 a metric tonne in February 2021, the price of soyabean was 53 per cent higher than the corresponding month of 2020, when the effects…
The Covid-19 pandemic has been unusual in several ways: the disproportionate extent to which people in rich countries (particularly in Europe and North America) have been affected; the sheer scale of the policy response for containment; and the speed and…
The world has been preoccupied with the Covid-19 pandemic, and this has also affected policymakers everywhere. There is much more recognition today of the terrible effects of underfunding public health over decades and how this affects the resilience of economies…
