Combined fiscal deficit to cross 13%; govt debt to jump over 80% this year: Report

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The pandemic-induced growth contraction and additional spending to support the needy amounting to a little over 2 per cent of the economy are likely to push the combined fiscal deficit to 13 per cent of GDP this fiscal – nearly double of the past year, according to a report. Similarly, these numbers will see the … Read more

ECB Leaves Policy Mix Unchanged as It Monitors Covid-19’s Impact on Economy

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FRANKFURT—The European Central Bank left its large monetary stimulus unchanged Thursday, as policy makers wait to see how a resurgence in Covid-19 cases across the continent and a jump in the value of the euro might affect the region’s economy. ECB President Christine Lagarde said the bank is paying close attention to the currency, highlighting … Read more

Argentines Seek Safety of U.S. Dollars, Despite Debt Deal

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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