From the editors: Death or debt situation for many world economies

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Thursday, October 22, 2020

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Opinion From the Editors

From the editors: Death or debt situation for many world economies

Tunisia has a new government and Kane Williamson sounds caution on IPL 2020

Published: September 02, 2020 11:14 Compiled by Devadasan K P, Picture Editor

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OPN 200902 PIC 2 — CHANCE TO EXPLORE THE CHINESE EDUCATION SYSTEM IN DUBAI: UAE has become the first country in the world to have a Chinese Public School outside China. Opened on August 31, the Chinese School Dubai started its classes with 200 students offering Chinese curriculum. It is indeed a huge relief for the fast increasing Chinese expatriate community in Dubai. Opening of this school is a step that reflects the depth of ties between China and the UAE. The initiative will further strengthen people to people relations as the school will provide an insight in to Chinese culture and education system. It is definitely a win-win project aimed at promoting bilateral relations and cultural exchange between the UAE and China. [COMMENT BY: Ashfaq Ahmed, Senior Assistant Editor] Image Credit: Ahmed Ramzan/GulfNews

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OPN 200902 PIC8 — CAN TUNISIA'S 3RD GOVERNMENT IN A YEAR SOLVE COUNTRY'S ISSUES? Tunisia’s parliament approved the country’s third government in less than a year on Wednesday, confirming former interior minister Hichem Mechichi as PM. He has his task cut out for him: The tourism-reliant economy has taken a massive hit due to pervasive instability. And the situation was worsened by COVID-19. Mechichi is a technocrat, but Tunisia has had technocrats as premiers before. The scale of the challenge is immense, with unemployment at 18 per cent. It is to be hoped this latest government will last for a considerable period of time, and will lead Tunisia out of its current problems. [COMMENT BY: Omar Shariff, International Editor] Image Credit: AFP

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OPN 200902 PIC6 — IT'S DEBT OR DEATH FOR MOST ECONOMIES: Many governments’ fiscal and monetary policy responses to COVID-19 have aimed at cushioning the impact of the sudden drop in economic activity. Economic data for the previous quarter of most countries point to sharp declines in GDP with some slipping into deep recession. If maintaining business cash flow has been a core goal of the fiscal policy so far, governments now need to boost spending to put cash into the hands of the most vulnerable. Stretched finances will force greater borrowing and or monetising of debt (print currency), leading to a debt bulge. If the choice is between debt and death of citizens, sovereigns should chose the former. [COMMENT BY: Babu Das Augustine, Business Editor] Image Credit: AP

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OPN 200902 PIC — STAY VIGILANT AND DISCIPLINED, SAYS KANE: After Virat Kohli, it was New Zealand captain Kane Williamson’s turn to issue a word of caution about staying vigilant against the COVID-19 pandemic as he prepared to join Sunrisers Hyderabad for the Indian Premier League in the United Arab Emirates. ‘’There's a little bit of apprehension, certainly as you get nearer to the time...You start thinking you do have to be extremely vigilant and disciplined,’’ said Williamson. [COMMENT BY: Gautam Bhattacharyya, Senior Associate Editor] Image Credit: AFP

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