Stagflation
Theme:- In June 2022, the world bank’s latest report warned about the increasing risk of global stagflation.
- Stagflation is a scenario in which both inflation and unemployment rate are high.
- Till the 1970s, it was believed that
Global energy crisis
Theme:- Since 2021, the world is facing an energy crisis due to several factors. At present, we are in the middle of the first global energy crisis. In many countries including the UK and Spain, electricity prices are increasing.
War crimes
Theme:- Ukraine is investigating over 30,000 alleged war crimes, which happened during current Russia’s invasion of Ukraine. In May 2022, one Russian soldier was sentenced to life in prison in a first war crimes trial since Russia’s invasion of Ukraine.
Sri Lanka’s economic crisis – Impact on India
Theme:- Sri Lanka is facing the worst economic crisis since its independence in 1948. The overall inflation reached an all-time high of 29.80% in April 2022.
- The covid pandemic has pushed many
Internationalization of the Rupee
Theme:- Several countries are pushing for de-dollarization to reduce the dependence on the U.S. dollar for cross-border transactions. So, this presents an opportunity to push for the internationalization of the Rupee.
- Currency internationalization is the extensive