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A mission from the International Monetary Fund (IMF) visited Djibouti from June 2-9, 2010 to discuss progress under the Extended Credit Facility (ECF), which replaced the Poverty Reduction and Growth Facility (PRGF) approved in September 2008.

Almost all of us seek happiness. We follow the path that we believe are capable of giving happiness. We also get happiness in our life, but our problem is our incapability of sustaining it for a longer time. We begin experiencing happiness and then end up in miseries. Our happiness is interrupted. It cannot be experienced continuously throughout the life. Everything that begins has an end. It is the law. We forget the self in this process which is simply bliss and axiomatic. We simply need to remove the veil of ignorance to find it within, which is the rhythm and the base of our very existence.

A leading economic think-tank, the Centre for Monitoring Indian Economy (CMIE), has estimated that the Indian economy is set to grow at 9.2 percent in the current financial year. This is much higher than the estimates made both by the Government and the Reserve Bank of India. The CMIE says its estimates are based on its expectations of better performance in the industrial and allied fields, as well as agriculture. It however puts a rider that monsoons must behave this year.

The Bharatiya Janata Party—once known for internal cohesion and discipline, although not for sober or inclusive politics—is now so faction-ridden that it often ends up damaging itself by pandering to particular leaders. Take Bihar, one of only six states in which it's is in power. Its coalition with the Janata Dal (United) under Chief Minister Nitish Kumar is crucial to the viability of the National Democratic Alliance. Mr Kumar has turned Bihar's administration around and revived economic growth. He enjoys a formidable reputation as India's most respected Chief Minister.

A significant fallout from the Nitish Kumar-BJP spat is that the saffron camp's plans to bring Narendra Modi to the national level as a preparation for projecting him as a prime minister has been dashed for the time being.

MANILA, PHILIPPINES - The Asian Development Bank (ADB) has addressed a range of challenging issues involved in an ADB-funded irrigation project in Pakistan, and compliance requirements have now been met, the independent Compliance Review Panel (CRP) says.

MANILA, PHILIPPINES - The Asian Development Bank (ADB) today approved $60 million in loans for the Viet Nam Health Human Resources Sector Development Program to help the country improve its health services, particularly in poor, remote communities which lack skilled workers and quality health facilities. The Program is cofinanced with an $11 million grant from the Government of Australia.

MANILA, PHILIPPINES - More than 100 energy regulators from around the world attended a conference at the Asian Development Bank (ADB) today aimed at strengthening regulatory frameworks to help countries in the Asia and Pacific region boost energy efficiency and develop renewable energy resources.

New York: Delegates have gathered at United Nations Headquarters in New York to explore ways of improving the implementation of a global treaty aimed at protecting oceans and the resources they hold from a range of threats, including pollution, climate change, illegal fishing and crimes.

Executive Directors of the International Monetary Fund (IMF) have noted that Benin's economy has been hit by the global crisis, leading to sharply lower growth and a large overall fiscal deficit in 2009. Directors also pointed to the adverse impact on Benin's economic performance of the large expansion in the public wage bill and uneven progress on structural reforms. Looking ahead, the key challenges are to contain the impact of the crisis in the short run, while reducing fiscal and external imbalances and boosting sustainable growth and poverty reduction over the medium term. Directors encouraged the authorities to build the necessary support among key stakeholders to ensure successful implementation of their reform program, particularly in the critical fiscal and structural areas.