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The Finance Minister Mr Pranab Mukherjee has provided a rather grim picture of Government’s own weaknesses in taming inflation, fiscal management and in putting through structural policies in order to sustain the economy’s growth momentum, at the economic editors meeting on October 19. The global slowdown and sovereign debt issues in USA and Europe are principally blamed for India’s growth moderating to 8 per cent in 2011-12, one percentage point below the official target, and the global oil prices for budgetary assumptions, especially fiscal deficit, going awry. He also added for effect “monetary policy tightening and increase in interest rates” leading to lack of new private investments in the economy. What about public investment in infrastructure?

New York: Guatemala, Morocco, Pakistan and Togo will serve as non-permanent members of the 15-member Security Council in 2012-13 after winning their seats during elections held earlier today at United Nations Headquarters in New York.

New York: The recent economic growth in Mongolia due to a boom in its mining sector represents an opportunity to reduce poverty in the country, the United Nations development chief Helen Clark said, encouraging the Government to implement long-term sustainable policies that will increase prosperity for all of its citizens.

New Delhi: Nepal has agreed to protect Indian investment by signing a Bilateral Investment Protection and Promotion Agreement (BIPPA), which includes a provision to compensate Indian commercial entities, which have been increasingly targeted since past couple of years. Indian business in Nepal will be treated at par with local firms in case of an insurrection or riot.

The Executive Board of the International Monetary Fund (IMF) today completed the seventh and final review of Nicaragua’s economic performance under its Extended Credit Facility (ECF) arrangement, and the financing assurances review. Completion of the review allows for the final disbursement to Nicaragua of an amount equivalent to SDR 5.55 million (about US$8.74 million). Total disbursements so far had been of SDR 72.45 million (about US$114.1 million).

New York: The massive flooding in South-East Asia has taken a heavy toll on the region’s children, United Nations agencies said today, with over 200 already having lost their lives, many due to drowning, and hundreds of thousands at risk of missing school because of damage to infrastructure.

Executive Directors of the International Monetary Fund have commended Albania's authorities for pursuing sound policies, which have permitted Albania to weather the global crisis well. Looking ahead, however, the economy faces increasing challenges, particularly from high public debt, sluggish productivity growth, and significant external vulnerabilities, including from potential regional spillovers. Early and sustained actions are needed to ensure fiscal sustainability, safeguard financial stability, and improve the investment environment.

New York: The President of the General Assembly, Nassir Abdulaziz Al-Nasser, today said that disarmament will be an important issue on the United Nations agenda next year, with a number of crucial conferences on global weapons reduction planned.

New York: Some of the nearly 200,000 Somalis who have sought refuge in Yemen from violence and famine in their own country are now considering going back home due to worsening security in the Arabian Peninsula nation, the United Nations refugee agency reported today.