Falling Rupee Puts Modinomics In Great Peril
Though drops in the Japanese yen and Chinese yuan are getting the global headlines, the all-time lows set by the Indian rupee may be the most troubling currency stumble of them all. Read More Here
Tag: rupee
Pakistan’s Perpetual Crisis
Like much else about Pakistan, it’s often infuriatingly difficult to determine whether or not its economy is on the brink of disaster. This week, as the Pakistani rupee lost 5 percent of its value in just three days, it looked like trouble was brewing. And sure, this might be a sign of the economy slipping […]
And, There Goes The Caviar
For Arvind Mayaram, India’s push to avoid having its credit rating cut to junk means he’ll have to forgo caviar and a two-meter-long flat bed in first class on his flight from New Delhi to Washington D.C. this week. Read Here – Bloomberg
India’s Proverbial Frog In The Pot
Banking reforms alone, however, aren’t going to bring foreign investors back or prevent the rupee from falling further. This is (Raghuram) Rajan’s real challenge: He is stepping into a stew of financial chaos, missed opportunities and political paralysis that has been simmering for years. It’s no longer inconceivable that India could become the first of […]
Fast Rewind To 1991?
With the value of the rupee plunging to new lows, the current account deficit at an all-time high and inflation running at nearly a ten-percent annual clip, India is in serious economic trouble. Indeed many are beginning to wonder whether the country is edging toward a replay of the events in the summer of 1991. Read […]
Th Elephant Needs To Dance Bold Steps
Not so long ago India was celebrated as an economic miracle. In 2008 Manmohan Singh, the prime minister, said growth of 8-9% was India’s new cruising speed. He even predicted the end of the “chronic poverty, ignorance and disease, which has been the fate of millions of our countrymen for centuries”. Today he admits the […]
What India Needs Is An Early Election
A rupee in free fall; a terrifyingly wide current-account deficit; a corrupt, stagnant bureaucracy: In 1991, then-Finance Minister Manmohan Singh helped to rescue India’s economy from that near-death experience with a slew of liberalizing reforms, setting the stage for two decades of growth. Today, facing a similar, if less existential, crisis as India’s prime minister, Singh may well be the […]
…And Whatever Happened To Emerging Markets?
When the U.S. financial system crashed in 2008, market watchers were increasingly romancing the idea of a “decoupling” that would separate emerging-market fortunes from those of the subprime-hobbled U.S. Such economies as Brazil’s and China’s, the thinking went, had the demographics and national balance sheets to keep growing and wowing as America foundered. Never happened. Read […]
India’s Credibility Crisis
As on a battlefield, so in the marketplace — a war to defend the economy is not won by the deployment of superior armoury but by the cleverness and credibility of one’s strategy and tactics. In a crisis, economic policymakers are like generals in war time. Their reputation is won not by the superiority of […]
looking beyond borders 