This paper proposes an objective way of estimating and allocating “differentiated” responsibilities for carbon emissions across countries. These responsibilities translate into specific obligations and
This article focuses on the main issues vital for the survival of the International Monetary Fund in the context of rapid and almost revolutionary changes in the world's money and capital markets, the rise of fast growing, emerging economies, and the decline in the use of the institution's resources and consequently in its income. It also discusses the structure of the IMF, the inadequacy of the instruments it currently employs and the new ones being contemplated as part of the Medium-Term Strategy it designed recently. April 5-11, 2008
EVEN a return to Inspector Raj looks probable as a distraught government is determined to rein in spiralling prices at any cost. The government is considering imposition of price ceilings on commodities if other measures to repress inflation fail.
THE government may allow multilateral funding agencies such as World Bank and Asian Development Bank (ADB) to directly extend debt to urban local bodies (ULB). At present, the grants are routed through the central government, which passes it to the states. The move is expected to provide an alternative portfolio of fund-raising to ULBs marred by finance constraints. It will also fast-track the process of fund-raising for developmental activities. The urban development ministry is considering the proposal to allow the multilateral agencies extend financial support to ULBs.
Bharat Nirman, the Centre's massive four-year
The recent duty cuts by the government may have some impact on softening prices after a couple of weeks, the Asian Development Bank (ADB) said today, even as it expected inflationary pressure to persist for a few more months. In its Asia Development Outlook released today, ADB expected inflation to fall moderately to 4.4 per cent this fiscal from 4.5 per cent in 2007-08, but said it is likely to rise again to 5 per cent next fiscal.
Senior BJP leader Murli Manohar Joshi says in an article that the Rs 60,000 crore loan waiver announced by the UPA government recently may benefit some people but it has left out a large mass of poor people. Besides, there are many other discrepancies in the waiver scheme, he says.
THEUS economy could contract in the first half of this year but should then pick up as aggressive interest rate cuts stimulate growth and financial and housing market woes recede, Federal Reserve chairman Ben Bernanke said on Wednesday.
MEDIA reports have talked of a
INFLATION LED BY SUPPLY-SIDE CONSTRAINTS, MONETARY TIGHTENING WON'T HELP Neelakshi Rana NEW DELHI THERE seems to be a near consensus among economists that containing inflation through monetary tightening would prove counterproductive. Unlike in February 2007 when RBI checked inflation by raising rates, they argue, this time inflation is largely led by supply constraints and not demand pull driven. Any credit squeeze would, therefore, hurt both demand and supply, leaving the gap largely unchanged.
Asian growth is expected to cool in 2008, as the region grapples with a global downturn and soaring inflation expected to hit decadehigh levels, the Asian Development Bank said. Fast-rising rice and oil prices as well as a worldwide slowdown will have a strong impact, the Manila-based ADB said in its annual outlook report for the economies of the region excluding Japan. But while it said it expected 7.6% growth in 2008 and 7.8% in 2009
