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The Estonian economy is emerging from a severe recession. After a cumulative output decline of almost 20 percent in 2008-09, IMF projects the resumption of modest growth in 2010. Domestic demand will, however, remain weak for some time. Medium-term growth prospects will therefore depend on the economy's ability to reorient towards exportables and on developments in Estonia's trading partners. Inflation is expected to remain subdued and the current account in surplus for several years.

Warsaw: Speaking at the Warsaw School of Economics, IMF Managing Director Dominique Strauss-Kahn said that while the recent financial crisis had exposed some weaknesses in Europe's institutional framework, there is now an opportunity to strengthen integration and cooperation across the continent. “The crisis has been a setback, but the benefits of integration are beyond doubt,” he said. “Now is the time to take the European project to the next, higher level.”

MANILA, PHILIPPINES - The Asian Development Bank (ADB) is investing up to $8 million for a 25% stake in Sungas LLC, a recently established liquefied petroleum gas (LPG) distributor in Afghanistan, to help it expand a nationwide storage and distribution network.

MANILA, PHILIPPINES - The Asian Development Bank (ADB) is providing a loan of up to $40 million to help build a new terminal at Zvartnots International Airport in Yerevan, Armenia.

Situations never remain static. This is particularly so in politics which has the uncanny nature of unexpectedly changing political fortunes of its practitioners. Signs of such possible changes are emerging in Haryana as indicated by two developments. First is the Indian National Lok Dal-controlled Chautala family getting beleaguered by disproportionate assets cases and three breach of privilege motions against its chief Om Parkash Chautala admitted during the recently concluded State Assembly's budget session. Second is the possibility of the unity between the estranged opposition parties.

LUCKNOW: Bahujan Samaj Party supremo and UP Chief Minister Mayawati has marginalised Brahmins in the party to consolidate her hold on the core Dalit voters.

There is definitely some thing odd about the narratives of the BJP after its Indore session. Every one seems to be in a hurry to pass the verdict. The new arrangement under Nitin Gadkari is shaky; no one is happy with the team he has announced; the Kayasthas of Bihar are up in arms and Shanawaz Hussain declares he will 'go to Mecca and Medina and offer prayers and repent for the sins'. Those overlooked may feel dejected. But let us not conclude that the Mohan Bhagawat-Gadkari experiment is already collapsing.

KOLKATA: This may come as a surprise to most readers, but West Bengal may well be the most incompetently administered state in India at present.

The Executive Board of the International Monetary Fund (IMF) today completed the fourth review of Belarus's performance under an economic program supported under a Stand-By Arrangement (SBA). The 15-month, SDR 1.62 billion (about US$2.45 billion) SBA was approved on January 12, 2009 and on June 29, 2009 the size of financial package provided under the SBA was increased to an amount equivalent to SDR 2.27 billion (about US$3.44 billion).

The Executive Board of the International Monetary Fund (IMF) has completed the first review of Maldives' economic performance under the Stand-By Arrangement (SBA) and the Arrangement under the Exogenous Shocks Facility. The completion of the review enables the immediate disbursement of an amount equivalent to SDR 5.125 million (about US$7.76 million), bringing total disbursements under the arrangements to SDR 10.25 million (about US$15.5 million).