The coronavirus poses a ‘serious’ threat to the stability of global financial system as both its impact and time of recovery are uncertain, according to the Financial Stability and Development Council chaired by Finance Minister Nirmala Sitharaman. The council, comprising financial market regulators and heads of a few government departments, met on Thursday to review […]
7-8% Growth In Medium Term Must For Sustainable Debt Path, Says NK Singh
Achieving 7-8 percent growth in the medium term is critical and central to move towards a sustainable debt trajectory, Chairman of 15th Finance Commission NK Singh. “Going to next year, we must not have that monotonic behaviour that it’s a base year correction,” he told reporters in Delhi today. “Important to see how sustainable it […]
Chinese Malls, Dependent on Restaurants, Face a Bleak Future
(Bloomberg Businessweek) — For decades, North Sichuan Road was Shanghai’s answer to Hong Kong’s Causeway Bay—a place where thousands shopped daily for everything including food and designer clothes. But that was before the new coronavirus. Now the local Printemps, a franchise of the glitzy Paris department store, has closed its doors, a nearby shopping center […]
The Fed Loves Main Street as Much as Wall Street This Time
(Bloomberg Businessweek) — Federal Reserve Chair Jerome Powell and his colleagues had a hard decision to make as the coronavirus epidemic worsened in February and March. If they stuck to the standard policy of buying only highly rated bonds, they would likely be accused of favoring Wall Street over Main Street—the traditional rap on the […]
Colleges With Empty Campuses Face an Uncertain Financial Future
(Bloomberg Businessweek) — The coronavirus pandemic threatens to remake U.S. higher education, speeding the closure of small, financially weak colleges and forcing others to make tough decisions about what they can afford. Even state schools may no longer be immune as tax revenue falls. Continue Reading. Read more on Businessweek by BloombergQuint.