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COVID-19 has caused rich-poor split in sovereign rating cuts, study shows

3 Min Read
LONDON (Reuters) - New research has compared how the three main credit ratings agencies S&P Global, Moody’s and Fitch have reacted to the COVID-19 pandemic in terms of their sovereign downgrades.
Overall, the ‘big three’ lowered a fifth of the countries they rate between January last year and last month, topping the 16% they cut at the height of the financial crisis more than a decade ago.
There have been some crucial differences, however.
The study by CountryRisk.io found 48 countries had their ratings cut by at least one agency. Half of those also experienced more than one downgrade, although richer countries saw hardly any despite a far bigger rise in debt levels. ....

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Economic sovereignty

Economic sovereignty
March 15, 2021
This refers to the news report ‘Cabinet approves SBP Amend 2021 related three bills: Hafeez’ (Mar 10). Certain additional conditions, ostensibly impinging on the nation’s economic sovereignty, have been imposed by the IMF for reviving the stalled programme. Misplaced focus on reining in inflation instead of targeting growth and investment have been the traditional recipe of the IMF. The measures such as a hike in inflation and tight money supply hold back investment and stifle growth. A halt in economic growth leads to rising inflation and unemployment. The economy enters into a vicious circle of recession and inflation with serious supply constraints. There is absolutely no reason why the country cannot be run without the assistance of the IMF. The outflow of dollars can be easily cut by curbing the import of luxury, wasteful and unnecessary items – that end up making the import bill of $ 8-10 billion. It will prevent the need ....

Arif Majeed , Hafeez Mar , ஆரிப் மஜீத் , ஹபீஸ் மார் ,

Why Over Half of Britons Are Sticking to Brexit Choice Despite Plummeting Economic Indicators

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Sea of troubles: The Somalia-Kenya marine border spat

Somalia and Kenya have been feuding for years over a stretch of the Indian Ocean claimed by both nations that is believed to hold deposits of oil and gas. ....

International Court Of Justice , Oil And Gas , சர்வதேச நீதிமன்றம் ஆஃப் நீதி , எண்ணெய் மற்றும் வாயு ,

Brexit Wars Recommence as EU Launches Legal Action Against UK

15 Mar 2021
The European Union is launching legal action against the United Kingdom over its efforts to protect trade between the British mainland and Northern Ireland, vindicating critics of Boris Johnson’s deals with the bloc who said they ensured Brexit was by no means “done”.
The terms Prime Minister Johnson agreed with the bloc on Northern Ireland were particularly onerous, with Northern Ireland, or Ulster, being left within the regulatory domain of the EU, and a partial customs border between the British province and England, Scotland, and Wales being imposed.
A so-called “grace period” before these conditions were imposed on Northern Ireland fully was permitted until the end of March, but the British government is now extending this until October unilaterally as Northern Irish people and businesses face shortages and other difficulties, compounded by the coronavirus pandemic. ....

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