Category: current affairs

Understanding IMF bailouts Why are Sri Lanka and Pakistan facing major macroeconomic risks? How does currency devaluation and price rise affect an economy? What is the International Monetary Fund? Why does the IMF impose certain conditions before lending money to countries? The story so far: The International Monetary Fund (IMF) last week confirmed a $3 billion bailout plan for Sri Lanka’s struggling economy. IMF officials are also in negotiations with Pakistan for a $1.1 billion bailout plan as the country faces a severe economic crisis marked by a falling currency and price rise. Why do nations seek an IMF bailout? Countries…

SC to hear plea of Opp on ‘selective, targeted’ use of agencies CBI, ED THE Supreme Court on Friday agreed to hear a plea by “14” Opposition parties alleging “selective and targeted” use of central probe agencies like the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) against their leaders. Senior Advocate A M Singhvi mentioned the matter before a bench presided by Chief Justice of India D Y Chandrachud, who agreed to take it up on April 5. “I am asking for guidelines for the future. This is a remarkable convergence of 14 parties against the misuse of the agencies,…

Wait continues in T.N. for Centre’s Pennaiyar tribunal As the three-month deadline fixed by the Supreme Court had expired last week, the State is waiting for Centre’s next course of action With the time limit fixed by the Supreme Court for the constitution of an inter-State river water disputes tribunal for Pennaiyar river getting expired on Tuesday last, Tamil Nadu is waiting for the Centre’s next course of action. In mid-December, the court gave the Centre three months to constitute the tribunal to resolve the dispute between Tamil Nadu and Karnataka over constructions across the river. In 2018, Tamil Nadu filed…