India’s Finance Minister Vows Not To Overspend

Wielding Finance, Innovation And Policy To Make An Impact In Climate Change

Emerging market countries often use reserves to fend off speculative attacks against its currency, and to provide a cushion against external debt service. The FinMin said that Indias target for this years fiscal deficit was still 4.8%. It is a red line and it will not be breached, he said on a day that economic data out of the country showed the government had run up a fiscal deficit of nearly half the budgeted amount in the first quarter. The fiscal deficit for April-June quarter was 48.4% of the budgeted amount compared with 37.1% in the same period last year, the ET reported Thursday.

Public financing need to be designed with private finance mobilization in mind blending small amounts of public funds with the flexibility and accountability that will create investor confidence, make for attractive investments, and ensure maximum impact for the public finance that is allocated. We have learned from the Climate Investment Funds (CIFs) and other tools how to blend public and private finance effectively, and now need to build the GCF and other solutions with these lessons in mind. What character and approach do you think new institutions in this space will need to take in order to be effective, both as investors and as part of the international community? The key attribute must be that these institutions are co-designed and managed with the private sector in mind, as public funds will only be a drop in the bucket.

Japan Finance Minister under fire for Nazi comment

I do not agree. There is a need for balanced, globally accepted, regulation that does not impede growth, or allow for abuse, Al Qemzi added. Industry estimates put the value of the Islamic finance sector at $1.5 trillion, little more than 1 per cent of the overall global financial sector. And, despite impressive annual growth rates of 15 per cent to 20 per cent, AlQemzi said there is no real tangible evidence that Islamic finance is a world force. Even in Muslim countries, conventional finance has a larger market share than Islamic finance.

Noor Islamic Bank’s CEO calls for global body to regulate Islamic finance industry

Speaking to reporters, Aso said Thursday that he was misunderstood and only meant to say that loud debate over whether Japan should change its postwar constitution to allow a higher profile for the military was not helpful. “It is very unfortunate and regrettable that my comment regarding the Nazi regime was misinterpreted,” Aso told reporters. “I would like to retract the remark about the Nazi regime.” Aso made the comments about Nazi Germany during a speech Monday in Tokyo organized by an ultra-conservative group. Critics of the ruling Liberal Democrats are uneasy over the party’s proposals for revising the U.S.-inspired postwar constitution, in part to allow a higher profile for Japan’s military.

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