euro Current Affairs - 2020

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India’s External Debt Eases

India’s external debt has witnessed a decline of 1.6% to US$ 521.2 billion at end-December 2018 over its level at end-March 2018, on account of the decrease in commercial borrowings and trade credit. Further:

  • There had been a valuation gain in external debt as at end December 2018 due to the depreciation of the US dollar vis-a-vis the Indian rupee and other major currencies (viz., SDR, yen, euro, and pound sterling), were placed at US$ 20.6 billion.
  • If the valuation effect was excluded the external debt as at end December 2018 would have been US$ 541.8 billion.
  • Commercial borrowings were the largest component of external debt with a share of 37.4%, followed by NRI deposits (24.1%) and short term trade credit (19.9%).
  • The long-term debt (with an original maturity of above one year) was placed at US$ 417.3 billion at end-December 2018.
  • The share of long-term debt in total external debt at the end of December was 80.1%. It was lower than its level of 80.7% at the end of March 2018.
  • The share of short-term debt (with an original maturity of up to one year) in total external debt increased to 19.9% at end-December 2018 from 19.3% at end-March 2018.
  • US dollar denominated debt continued to be the largest component of India’s external debt with a share of 45.9% at end December 2018, followed by the Indian rupee (24.8%), SDR (5.1%), yen (4.9%) and euro (3.1%).

The outstanding debt of both government and non-government sectors had decreased at end-December 2018, in comparison to end-March 2018, however, increased in comparison to end-September 2018.

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Zuzana Caputova elected first female President of Slovakia

Zuzana Caputova has won Slovakia’s presidential election, making her the country’s first female head of state. Ms Caputova defeated high-profile diplomat Maros Sefcovic, nominated by the governing party. She won 58% of the vote, with Mr Sefcovic trailing on 42%. Mr Sefcovic is the vice president of the European Commission.


Slovakia is a landlocked country in Central Europe. It borders Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia is a member of the European Union and NATO.

Slovakia was the “other half” of Czechoslovakia, which split into two countries in 1993.

Slovakia’s which spans about 49,000 square kilometres (19,000 sq mi) is mostly mountainous. The capital and largest city is Bratislava, and the second largest city is Košice. The official language is Slovak and Euro is its national currency.

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