Navigating the Storm: The Art of Mindful Leadership in Corporate Seas
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
July 29, 2022: -According to the International Monetary Fund’s Krishna Srinivasan, increasing debt levels caused by inflation and tightening financial conditions in Asia cause concern.
“If you look at debt for the region, if you look at the share of total debt of Asia, aggregate debt, that’s gone up quite sharply,” Srinivasan, the director of the Asia and Pacific Department at the IMF, told on Wednesday.
He said that debt in the region includes increased from 25% before the pandemic to 38%.
Srinivasan said countries at risk include Laos, Mongolia, Maldives, and Papua New Guinea, citing Sri Lanka maintains already defaulted on its debt repayments.
Inflation in Laos gained 23.6% in June. The Asian Development Bank estimates Mongolia’s annual inflation will reach 12.4% in 2022. The Maldives has been working with a high deficit for years. While the Maldives’ debt-to-GDP ratio has declined over the past two years, it is still high at about 100% of GDP.
“So there are many countries in the region which are facing high debt numbers. And some of these countries are in debt distress territory. And so that’s something we must observe out for,” Srinivasan said.
On Tuesday, in its global economic outlook released, the IMF forecast a sharp slowdown in global growth from 6.1% the previous year to 3.2% this year, predicting growth in both China and India will be hit.
As a result, Srinivasan said development in Asia will be significantly impacted in 2022 and 2023, slowing to 4.2% and 4.5%, respectively.
“This year, we see inflation to be quite a significant factor. We marked up our forecast for inflation for Asia more broadly, and it’s particularly true for advanced economies in Asia,” Srinivasan said. He did not hazard a guess on “whether we are going to see a crisis or not” in the region.
“The markdowns reflect the profound impact of the Ukraine war. The war has led to a substantial increase in inflation,” Srinivasan said.
He expressed Asia had witnessed considerable tightening in financial conditions, significantly as advanced economies increased interest rates.
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
In the high-stakes game of corporate leadership, where every decision reverberates through the echelons ….
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
In the corporate landscape, where conformity often reigns supreme, what if I told you that rebels aren’t troublemakers but …
As the storm of the pandemic begins to subside, corporate leaders face a landscape that has forever changed. The question …
In the ever-evolving symphony of corporate dynamics, a new movement has emerged, reshaping the traditional …
In a recent transaction, Janney Montgomery Scott LLC, a financial services firm, purchased 7,125 shares of the iShares ESG Advanced …
A recent regulatory filing reveals that Envestnet Portfolio Solutions Inc. has decreased its holdings in the Invesco S&P 500 Equal …
Discover the number of choices of black british dating If you are looking for a dating site that caters particularly to black british singles, then
In the ever-evolving work landscape, where technological tides are reshaping the shores of employment, the question …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you