Wednesday, August 04 2021

New rules of the game and transformed global financial architecture are needed to rehabilitate the global economy and foster investment and trade in the new normal. Bold fiscal policy measures and hefty stimulus packages- upto 20 per cent of GDPs- were announced from March 2020 by various countries to contain savage macro-economic effects,  prevent a free fall of their economies and markets and craft a better tomorrow.

These measures included fiscal packages, relaxation of monetary and macroprudential rules, and liquidity injection into the banking system. Synchronised measures with a sense of immediacy by central banks and governments restored a modicum of normalcy in financial markets.

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