Asian financial crisis Current Affairs, GK & News

Economic situation to be the worst since the 1997 Asian Financial Crisis

The recently released World Bank report predicted that the economic situation in the near future could be the worst since the 1997 Asian Financial Crisis. 1997 Financial Crisis The 1997 Asian Financial Crisis is also known as the Asian Contagion. It was a sequence of currency devaluations in the region leading to decline in the ..



IMF’s World Economic Outlook Update hews down India’s growth forecast to 6.1%

The International Monetary Fund (IMF) in its World Economic Outlook Update, chopped down India’s economic growth projection from 6.8 % to 6.1% in 2012. This is the result of slowdown in external demand and deceleration in domestic demand. The slow in domestic demand has been attributed to capacity constraints and monetary tightening by RBI. It ..