Eurozone
Croatia’s switch to Euro
Croatia has taken two major steps towards further integration with the European Union (EU) by adopting the euro and joining the Schengen zone. The country officially became the 20th member of the eurozone on January 1st, and the removal of ..
Month: Current Affairs - January, 2023
Category: International / World Current Affairs
OECD Growth Forecasts 2019
The Organisation for Economic Co-operation and Development (OECD) has reduced the world economic growth forecasts for the year 2019. Economic Forecasts of OECD The report notes that trade tensions and political uncertainty, including Brexit and erosion of business and consumer ..
Month: Current Affairs - March, 2019
The Asian Development Bank (ADB) sanctioned $300 million of loan facility to carry forward fiscal reforms in West Bengal
The Asian Development Bank (ADB) has sanctioned $300 million loan facility to continue a comprehensive series of fiscal reforms in West Bengal to bring about more accessible, affordable, and high quality public services. The new loan programme, which will be ..
Renminbi, Rupee included in ADB’s TFP
Noticing the expanding influence of the economies of China and India among the Asian economies, the Asian Development Bank (ADB) decided to encourage and support deals denominated in their local currencies under its Trade Finance Programme (TFP) as intra-regional trade ..
Month: Current Affairs - July, 2012
EIB skeptical about recovery of Eurozone crisis within two years
The European Investment Bank (EIB) is doubtful about the recovery of Euro zone from its debt crisis within the next two years. As per the Bank the pressure on the European member state to settle the situation will remain for ..
Month: Current Affairs - July, 2012
EU offers Spain bank financial aid and more time to cut deficit
European Union has offered ailing Spain more time and 30 billion euro to save the country’s banks and protect Europe from more debt crises. EU ministers promised to provide the funds with 100 billion euro ($123 billion) potentially available in ..
Month: Current Affairs - July, 2012
European Union to utilize Eurozone’s permanent bailout funds to help troubled banks
The EU leaders have decided to use the Eurozone’s permanent bailout funds to support struggling banks directly, without raising government debt. EU leaders also agreed that bailout funds could be utilized to stabilize financial markets, which implies buying government debts ..
Month: Current Affairs - June, 2012
India set to become eighth largest shareholder in IMF
India is ready to become the 8th largest shareholder in the IMF after quota reforms which are expected to be finalized at the agency’s annual meeting at Tokyo in October 2012. Once the quota reforms are put through, India’s share ..
Month: Current Affairs - June, 2012