October 18, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

‘Learnt lessons from last taper tantrum’

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‘Learnt lessons from last taper tantrum’
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‘Learnt lessons from last taper tantrum’
‘Learnt lessons from last taper tantrum’

NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday said that countries, including India, have learnt their lessons from the previous taper tantrum, while assuring that the government and the RBI were keeping close tabs on situation.
“Most countries have learnt their lessons from the 2008 crisis and based on the lessons learnt many countries have devised their own strategies… India too had learnt its lessons from the last taper tantrum, which led India to becoming one of the Fragile Five economies because of the way taper tantrum was handled last time. We have learnt some lessons and together with the RBI we are keeping a watch,” Sitharaman said in response to a question posed by Niti Aayog vice-chairman Rajiv Kumar at a conference organised by think tank ICRIER.
With inflation picking up pace, there are fears that central banks in several developed economies will start unwinding the liquidity, resulting in withdrawal of funds from emerging markets such as India.
Besides, there are worries over the Evergrande, which the FM sought to play down, but appeared more concerned over the high levels of debt.
“Specifically, not Evergrande, but debt sustainability is an issue which every global forum will have to address and talk. Particularly debt, that also brings sovereignty of a nation under threat, then it is a matter of serious concern. There will be this larger issue of debt sustainability, sovereignty and how smaller countries are facing a very trying challenging situation,” she said.

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