Economic Crisis

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  • Sri Lankan Economic Crisis and Rise of Left Politics: Implications for India

    Though the Janatha aragalaya (people’s struggle) against the Rajapaksas was spontaneous, the role of the Left organisations in galvanising this into a movement that ousted the Rajapaksa family is an important landmark in Left politics.

    July 21, 2022

    Political Uncertainty in Sri Lanka: No End in Sight

    Gotabaya Rajapaksa’s resignation is unlikely to bring the desired political outcome and the much-needed economic relief to the people of Sri Lanka.

    July 21, 2022

    Murthy Karanam asked: What happens when a country defaults on sovereign debt? Have IMF/World Bank bailouts so far helped or exacerbated the financial condition of the recipient countries?

    Rajeesh Kumar replies: A sovereign default occurs when a country fails to pay back its loan to domestic or international creditors. The International Monetary Fund (IMF) defines default as a breach of contract or broken promise. The most immediate impact of sovereign default is that borrowing cost rises for the government in the domestic and international bond market. The higher interest will impact the entire economy of the country, including the value of currency, banking system, stock market, corporate borrowing, etc.

    Shashank Mittal asked: What are the emerging threats to India's internal security in the wake of globalisation, regime changes in the neighbourhood, and emerging technologies?

    Shruti Pandalai replies: Globalisation, many would argue, is facing a backlash in the current global order in the aftermath of the Ukraine crisis as it amplified shifts already underway both due to the US–China split and the post-pandemic rewiring of economics and trade. Realignments and increasing focus among countries to look inwards, reshoring and building capacities to source and manufacture domestically and with trusted partners, have become an emerging trend.

    Economic Crisis in Sri Lanka: An Assessment

    Depletion in foreign reserves has led to uncertainty about Sri Lankan government’s ability to account for import of essential items and debt servicing. Analyses of government’s policy measures and global geopolitical-economic developments suggest that a state of uncertainty is hovering over Sri Lankan economy.

    March 10, 2022

    Lebanon: A Country Stuck in Multiple Crises

    Prolonged political crisis, social unrest, pre-existing economic misery, and outbreak of a diplomatic crisis between Lebanon and the Gulf countries have left Lebanon in a debilitated state. Systemic reforms to tackle the economic, political, diplomatic and humanitarian challenges, are the need of the hour.

    January 01, 2022

    Demonetisation and Beyond: Addressing the Finance of Terrorism

    Demonetisation is an important step in the fight against the finance of terrorism. However, it should neither be the first nor the last, if the interlinked threats of corruption, crime and the finance of terrorism have to be controlled.

    November 18, 2016

    Soundarrajan Karuppusamy asked: How the lowering of oil prices adversely affect India’s overall economic security? Will there be any negative impact on India’s energy security?

    Shebonti Ray Dadwal replies: The lower oil prices have thus far been beneficial for India, being a major oil importing country. India is expected to save Rs. 2.14 lakh crore on its oil import bill in the Financial Year 2016. Moreover, a lower oil import bill has helped cut its current account deficit (CAD) from 4.8 per cent in 2012 to 1.6 per cent of the GDP. But this might not be the case in future. When the oil prices would increase, the CAD too will increase concurrently.

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