Gold Silver Reports (GSR) – China, India Extend Grace Periods for Mozambique Debt Repayments — The two countries agreed to the extensions in talks last year, Stelia Neta, deputy national director of the ministry, said in an emailed response to questions. In addition, China agreed to forgive $34 million of debt, she said.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
China Foreign Reserves Rise on Yuan Gains
Gold Silver Reports (GSR) – Reserves rose $8.34 billion to $3.143 trillion in March from the previous month, the People’s Bank of China said Sunday. That was slightly below the $3.146 trillion estimate survey of economists. The March figure marks a turnaround after falling in February for the first time in 13 months. The State Administration of Foreign Exchange expects the country’s foreign reserves will remain stable.
India To Spend Rs 16,717 Crore On Modi Health Insurance Plan In Two Years
Gold Silver Reports (GSR) – India To Spend Rs 16,717 Crore On Modi Health Insurance Plan In Two Years — “The centre’s share will be Rs 10,498 crore and the states will spend around Rs 6,219 crore,” Alok Saxena, joint secretary in the Ministry-of-Health and Family-Welfare who has been supervising the rollout. In the first year, the government will spend Rs 2,800 crore and states’ will pitch in Rs 1,700 crore. They will contribute Rs 7,300 crore and Rs 4,500 crore, respectively, in the second, he said.
India RBI Key Points of the Monetary Policy Statement
Gold Silver Reports (GSR) – India RBI Key Points of the Monetary Policy Statement — Reserve Bank of India Governor Urjit Patel and his monetary policy committee lowered inflation projections on Thursday, raising expectations that interest rates will be on hold for sometime to come. That may boost flagging investments and demand, both of which were hit by a cash ban imposed in late 2016 and the chaotic implementation of a consumption tax last year.
Trump Escalates Trade Tensions With Call for New China Tariffs
Gold Silver Reports (GSR) – The move threatens to unravel efforts by top U.S. and Chinese trade officials to lower the heat and reach an agreement that could stave off an escalating conflict, after the release of a list of tariff targets earlier this week prompted immediate threats of retaliation from Beijing.