A smaller-than-expected poll victory for Prime Minister Narendra Modi is leading to worries among bond investors about greater populism. Fiscal discipline has been a hallmark of Modi’s decade-long administration, and many investors were expecting him to win a supermajority to reduce the budget deficit and further cut government borrowing in the next budget. The election … Read more
The Centre will borrow another Rs 5.03 lakh crore in the second half of the financial year, assuaging bond market concerns of large additional sovereign debt raising. The Reserve Bank of India Monday released the plan for government borrowing between October and March. In the first half, it had planned to borrow Rs 7.24 lakh … Read more
Argentines are once again rushing to the safety of the U.S. dollar, a sign the country’s deal with creditors to restructure $65 billion in foreign debt has failed to restore confidence in government policies. The agreement reached early this month to lower interest payments and extend debt maturities will provide the insolvent South American country … Read more