Economic Crisis

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  • One Year of Ranil Wickremesinghe’s Presidency and Sri Lankan Economy

    The ambitious policy measures taken by the Ranil Wickremasinghe government to revive the economy have yielded some positive outcomes though concerns remain over their implementation.

    August 23, 2023

    Saurav Pandey asked: What is the significance of the G20 Summit of 2023 in India's foreign policy? What are the expectations that the world has from India?

    Rajeesh Kumar replies: The Group of Twenty (G20) is an informal grouping of the world's largest 20 economies. It accounts for nearly 80 per cent of the world GDP, 75 per cent of global trade, and 60 per cent of the world population and has become one of the most prominent multilateral groupings in contemporary global politics. India took over the G20 Presidency from Indonesia on 01 December 2022. 

    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

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