The International Monetary Fund (IMF) said it approved a $500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan programme.
Lebanon’s plight is not just piteous but shocking, to say the least. The reported wrangling among the politicians has dealt a body blow to the economy, with the currency losing a disastrous 90 per cent of its value and inflation spiralling sky-high.
Asian shares pushed higher on Friday after US President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation.
With growing food and fuel prices, India’s retail inflation increased in February as the Consumer Price Index rose to 5.03 per cent against 4.06 per cent in January.
Rising trade deficit along with chances of a populist budget might dampen rupee’s prospects during the coming week. Nevertheless, persistent interest of Foreign institutional investors (FIIs) in India’s equity market will arrest any sharp depreciation moves.
Egypt’s annual urban consumer price inflation eased to 4.3% in January from 5.4% in December, the official statistics agency CAPMAS said.
India’s annual rate of inflation based on wholesale prices (WPI) sequentially rose to 2.03 per cent in January from a rise of 1.22 per cent in December.
British inflation edged up in January as locked-down consumers paid more for food and sellers of furniture and other household goods offered smaller-than-usual New Year discounts to people seeking to spruce up their homes.
World shares sank on Monday as expectations for faster economic growth and inflation battered bonds and boosted commodities, while rising real yields made equity valuations look more stretched in comparison.
India’s central bank (CB) kept key interest rates on hold on Thursday as it sought to contain a rise in retail inflation, though it vowed to keep policy sufficiently loose to help revive growth in the coronavirus battered economy.