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The Executive Board of the International Monetary Fund (IMF) has completed its first review of the Comoros' economic performance under a program supported by the Extended Credit Facility (ECF). Completion of the first review allows the disbursement of an amount equivalent to SDR 1.5575 million (about US$2.30 million), bringing total disbursements under the arrangement to SDR 5.785 million (about US$8.54 million).

Executive Directors of the International Monetary Fund (IMF) have observed that, although the [Global Financial] crisis had started in advanced economies, it had a pronounced impact on many emerging market countries, reflecting contagion and spillover effects across countries and economic sectors. Along with improved fundamentals in many of these countries and appropriate use of available policy space, coordinated measures to stimulate growth in advanced economies and the availability of large international financial support, including from the Fund, have helped emerging markets cope with the crisis and paved the way for recovery.

Stage is all set for the first World Classical Tamil Conference in Coimbatore in Tamil Nadu. The five day literary-cultural event starting from 23rd of this month is the biggest such gathering in the history of modern Tamil Nadu. President Smt. Pratibha Devisingh Patil will inaugurate the literary-cultural extravaganza in the presence of the world torch bearers of Tamil language and the Tamil Culture that include Dr.M. Karunanidhi, the Chief Minister of Tamil Nadu.

KOLKATA: It seems New Delhi adopts one policy to maintain public order in North Bengal, and another policy for the North East.

Politics, especially electoral, has the uncanny habit of kicking up new controversies besides fuelling the ongoing ones. Punjab where the Assembly poll is due in less than two years is witnessing such a scenario. The ruling Akali-BJP leadership has started vociferously voicing demands which not only have far-reaching implications for the state's crippled economy but have also fueled controversies over centre-state and inter-state relations.

The certain political compulsions at the fag end of the 20th century India had prompted the then Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) government to take a new path towards Rural India. On the insistence of some well-intentioned planners, the Prime Minister Atal Behari Vajpayee agreed to the plan, which was christened as Pradhan Mantri Gram Sadak Yojana (PMGSY). It was rightly felt that we couldn't uplift the rural India without connecting the villages with all weathered roads in the absence of which village people were greatly suffering on account of non-access or untimely access to health, education, transport and many other essential facilities.

The quantum leap in wind power in Asia will come from India as all favourable conditions in terms of potential, technical and support facilities, favourable policy and regulatory environment, robust manufacturing base, and investor confidence are available for an accelerated growth of wind sector in the country. This was stated by Union Minister for New and Renewable Energy, Dr. Farooq Abdullah who visited Asian Development Bank (ADB) headquarters in Manila, Philippines today to participate in the Asian Clean Energy Forum. He observed that wind has emerged a major source of clean energy with India alone having an estimated potential of about 48,000 MW and emphasized the need to encourage and take it to greater heights.

WASHINGTON - At its first meeting, the Haiti Reconstruction Fund allocated US $30 million to help the Government of Haiti fill its budget gap to provide vital services and social assistance.

BEIJING - China's economy has continued to grow robustly, with some softening recently, according to the World Bank's latest China Quarterly Update.

THIRUVANANTHAPURAM: The determined efforts of the Indian Union Muslim League, the no. 2 constituent of the Congress-led United Democratic Front (UDF) in Kerala, to extend its areas of influence, have run into rough weather.