Asia

According to the most recent Morgan Stanley prediction, Asian economies would outperform their western counterparts by 5% by the end of 2023 as a result of robust domestic demand and financial stress in the US and Europe. China will play a significant role in enhancing Asia's economic performance after loosening its COVID limits. According to MS Asia economists headed by Chetan Ahya in a note dated Tuesday, the current financial crisis in the U.S. and Europe makes the argument for Asia's superior performance even stronger. She also said that the aggressive rate rises by central banks to tighten lending criteria in the US and Europe may continue. The measure will eventually have an effect on domestic demand. Additionally, according to Chetan Ahya, the effect would spread throughou...

The Washington-based fund now projects that the Asia Pacific region's GDP will total 4.6% this year, which is about 0.3 percentage points quicker than predicted in October and is mostly attributable to China's openness. According to the International Monetary Fund, China and India will together contribute for almost half of global growth this year, highlighting Asia's growing influence on the global economy. The Washington-based fund now projects that the Asia Pacific region's GDP will total 4.6% this year, which is about 0.3 percentage points quicker than predicted in October and is mostly attributable to China's openness. According to the IMF, the area as a whole will contribute more than 70% of global growth this year. According to Krishna Srinivasan, head of the IMF's Asia and P...

In February, despite reduced credit growth, the proportion of bad loans to the overall loan book in the banking sector increased for the second consecutive month. The percentage of bad debts in the entire loan book of the banking industry increased for the second consecutive month in February despite slower credit expansion brought on by the Bangko Sentral ng Pilipinas' (BSP) string of aggressve rate rises. The non-performing loan (NPL) ratio of Philippine banks increased slightly from 3.28 percent in January to 3.31 percent in February, according to preliminary statistics from the central bank. After peaking at 4.24 percent in 2017, the industry's NPL ratio progressively increased to a two-year low of 3.17 percent in December. The ratio reached its highest point in July and Augu...

As he completes his second budget, Treasurer Jim Chalmers has issued a warning about the "incredibly weak" economic growth expected over the next five years. Cost-of-living relief, economic expansion, and making Australia "more resilient to international shocks" will be the three main focuses of the May budget, according to him. His remarks follow a brief trip to Washington, DC, where he met with top financial figures to discuss the "complex and confronting" current global circumstances that would serve as the basis for the Budget. He said that "this budget will be delivered in the context of an uncertain, volatile, and precariously placed global economy." One of the main takeaways from the engagements in Washington, DC, was that while the global economy has managed to get thr...

The IMF has said that the world economy is projected to grow at less than 3% in 2023 and China and India would account for half of the global economic growth this year. India and China are expected to account for half of the global economic growth this year, International Monetary Fund (IMF) managing director Kristalina Georgieva said on Thursday. The IMF chief said the world economy would continue to see a sharp slowdown against the backdrop of the Covid-19 pandemic and the aftermath of the Russia-Ukraine war, adding that it is expected to grow at less than 3% in 2023.

Both Afghanistan and Myanmar are mired in humanitarian crises brought on by the military forces in control's appalling judgments, yet UN relief appeals in both countries are woefully underfunded. While major nations and a sizable portion of the globe seem to be preoccupied with the conflict in Ukraine and global warming, two serious crises are unfolding in separate regions of Asia. Traumatic humanitarian crises have been brought on in both Afghanistan and Myanmar as a result of appalling choices made by the militaries in charge—the Taliban in Kabul and the Tatmadaw (or Burmese military) in Naypyidaw. UN personnel are working to lessen the severe suffering that exists in both nations, but international aid requests have received very little funding. With 28.3 million people in ...

It comes amid concerns that certain nations, including Ghana and Zambia, are having difficulty paying back their loans to Beijing…Asian Lite News reports According to a media source, World Bank President David Malpass expressed alarm about some of the loans China has been providing to poor nations in Africa. The terms and conditions need to be "more transparent," according to David Malpass. According to the BBC, there are concerns that certain nations, including Ghana and Zambia, are having difficulty paying back their loans to Beijing. According to China, all such financing complies with international laws. Developing nations often take out loans from foreign countries or multilateral organizations to fund economic growth-oriented industries like infrastructure, education,...

While India continues to experience excellent news, the most recent good news is that the rupee, our nation's currency, is steadily gaining acceptance and influence among other nations. The globe is stepping up to conduct financial transactions with India in rupees as a result of India's expanding importance in global commerce. The dollar's hegemony over other currencies is eroding over time. 18 nations have agreed to do business using both rupees and their own currencies. Special Rupee Vostro accounts have already been created in these 18 nations. It implies that we are not required to pay in dollars for the goods we import from these nations. However, that nation will also do its accounting in its own currency. The primary benefit of this arrangement would be the reduction of the dollar...

Pakistan which was struggling hard for the post Covid-19 economic recovery is now witnessing additional challenges such as unprecedented depletion of foreign exchange reserves, a galloping inflation, a steep depreciation in the value of PKR, drying foreign investment and twin deficits leading to deep macro economic instability. The prospects of Pak economy has worsened further due to Russia-Ukraine war and expected ripple effects of failed US Banks, Silicon Valley Bank (SVB) and Credit Suisse. As Pak debt dependent economic growth model has been discredited much by now, there is increasing clamor in the country for a growth model based on domestic capital formation and investment. But Pakistan has crippled its domestic capital formation and investment capability to a disappointingly lo...