Ojaank IAS Academy




3 September 2022 – Current Affairs

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INS Vikrant

Paper 3- Security
Why Should You Know?
On September 2, 2022 Prime Minister shri Narendra Modi commissioned the first indigenous aircraft carrier as INS Vikrant.
In details –
  • Prime Minister Shri Narendra Modi commissioned the first indigenous aircraft carrier as INS Vikrant. During the event, the Prime Minister also unveiled the new Naval Ensign (Nishaan), doing away with the colonial past and befitting the rich Indian maritime heritage.
  • PM Modi did this cover of INS Vikrant at a function held in Kochi, Kerala.
About INS Vikrant –
  • INS Vikrant is designed by Indian Navy’s in-house Warship Design Bureau (WDB) and built by Cochin Shipyard Limited, a Public Sector Shipyard under the Ministry of Ports, Shipping & Waterways, Vikrant has been built with state of the art automation features and is the largest ship ever built in maritime history of India.
  • The Indigenous Aircraft Carrier is named after her illustrious predecessor, India’s first Aircraft Carrier which had played a vital role in the 1971 war.
  • It has a large number of indigenous equipment and machinery, involving major industrial houses in the country as well as over 100 MSMEs.
  • With the commissioning of Vikrant, India will have two operational Aircraft Carriers, which will bolster the maritime security of the nation.
  • Overall it cost Rs 20,000 crores to build. The project has been progressed in three phases of the contract between MoD and CSL.
Features –
1. 262-meter-long :
  • INS vikrant is 262-meter-long carrier it has a full displacement of close to 45,000 tonnes which is much larger and more advanced than its predecessor. Its maximum speed is 28 knots.
2. Size of ‘2 football fields’:
  • Vikrant is the largest ship ever built in India’s maritime history – as big as the size of two football fields.
3. Olympic pools
  • The hangar that will house the aircraft is big enough to accommodate two Olympic pools, the Navy said.
4. Floating city with 18 floors :
  • Termed as a floating city with 18 floors, INS Vikrant consists of 14 decks with 2,300 compartments which can carry around 1,500 sea warriors and to cater to the food requirements, around 10,000 chapatis or rotis are made in the ship’s kitchen, which is called the ship’s galley.
5. A complete medical complex :
  • Other features on the ship include a complete medical complex with latest equipment, which includes physiotherapy clinic, ICU, laboratories and isolation wards.The warship, which took over a decade to be built, is equipped with a 16-bed hospital.
6. Mix of 30 aircraft:
  • Speaking about the specifications of IAC Vikrant, Vice Admiral Hampiholi had said that INS Vikrant carries a mix of about 30 aircraft MIG-29K fighter jets, Kamov-31, MH-60R multi-role helicopters, in addition to indigenously manufactured Advanced Light Helicopters (ALH) and Light Combat Aircraft (LCA) (Navy).
7. damage control center :
  • Vikrant also has a Damage Control Center from where fire or water accidents are monitored at all times. Through modern command and control systems, marines keep an eye on the system at all times because the situation of accident happening in the sea is always there.
8. Indigenous :
  • With an overall indigenous content of 76 per cent, Vikrant has been built with a high degree of automation for machinery operation, ship navigation and survivability, and has been designed to accommodate an assortment of fixed-wing and rotary aircraft.
9. Power full Generator :
  • It has 8 power full electric generator.The eight power generators on the IAC are enough to light up the city of Kochi. The aircraft carrier is powered by four gas turbines with a total power of 88 MW.
10. STOBAR Technique :
  • Using a novel aircraft-operation mode known as STOBAR (Short Take-Off but Arrested Landing), the carrier is equipped with a ski- jump for launching aircraft, and a set of ‘arrester wires’ for their recovery onboard.

New Naval Ensign

Paper 3 – Security
Why Should You Know?
On September 2, 2022 Prime Minister Shri Narendra Modi unveiled the new Naval Ensign (Nishaan).
In details –
  • Naval Ensigns are flags that naval ships or formations bear to denote nationality. The current Indian Naval Ensign consists of a St. George’s Cross – a red cross with white background.
  • The patron saint of England, St George lived in the 3rd century and is still identified with ideals of honour and gallantry.
About New Ensign –
  • The new ensign consists of the National Flag in the upper left canton, and a navy blue-gold octagon at the centre.
  • The eight corners of the octagon symbolise the multi-dimensional approach of the Navy.
  • The octagon has two golden borders encompassing the national emblem underscribed with ‘Satyamev Jayate’
  • The motto of the Indian Navy ‘Sam No Varunah’ is inscribed within the Octagon.
  • The new Naval Ensign depicts steadfastness, the octagonal shape represents the eight directions symbolizing multi-directional reach of the Indian Navy. The Navy had earlier said the new insignia will be befitting the rich Indian maritime heritage.
  • Notebly This is the fifth change in the naval ensign since 1950.
Changes so far –
  • On 26 January 1950, the Indian Navy replaced its old Union flag with the Indian Flag, but retained the St. George’s Cross on the flag.
  • After this, on 15 August 2001, the Government of India removed this cross from the flag and added a navy blue crest to the Navy’s flag.
  • In 2004, the flag was changed back by the Government of India with St George’s Cross on it.
  • After this, in the year 2014, the national motto “Satyamev Jayate” in Devanagari script was added to the flag.
  • Now this is the fifth time when government has done changes in Indian navy’s flag.

‘SPARK’ Program

Paper 2 – Education
Why Should You Know?
Recently, the Central Council for Research in Ayurvedic Sciences (CCRAS) has launched the program ‘SPARK’, to support new research in the field of Ayurveda.
In details –
  • The Central Council for Research in Ayurvedic Sciences (CCRAS), has taken a unique initiative to support the research efforts of bright young minds of the Country by developing the Studentship Program for Ayurveda Research Ken (SPARK) for Ayurveda (BAMS) students studying in recognised Ayurveda colleges.
  • Shri Pramod Kumar Pathak, Special Secretary, Ministry of AYUSH, Government of India and Vaidya Jayant Yashwant Devpujari, Chairman, National Commission for Indian System of Medicine (NCISM) presented this fellowship scheme and its applications Portal launched at an event held on 2nd September, 2022 in the presence of other officials.
  • The application process for SPARK will be completely online through the portal, www.spark.ccras.nic.in.
  • “Interested candidates will be required to submit their research proposals through the SPARK Portal. The proposals will be evaluated by eminent experts and reviewers.
  • The selected fellows will be offered a financial support of Rs 50,000 under the fellowship. Initially there will be total 100 seats per session.
About Central Council For Research In Ayurvedic Sciences –
  • The Central Council for Research in Ayurvedic Sciences (CCRAS) is an autonomous body of the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homeopathy), Government of India.
  • It is an apex body in India for the formulation, coordination, development and promotion of research on scientific lines in Ayurveda and Sowa-Rigpa system of medicine.
  • CCRAS has taken many commendable initiatives in recent times, especially during the COVID-pandemic. The Council has not only developed popular formulations such as Ayush-64, it has as many as 18 formulations and technologies to its credit also.
  • Council has developed and implemented a wide range of schemes and programmes to serve the citizens.
  • By developing meaningful collaborations with premier academic research institutions within and outside of the country such as IIT, ICMR, ICAR, JNU, BHU, AIIMS…the Council has accelerated quality research activity in the domains of ayurveda and allied sciences.
  • Council is currently working on various research and development projects in collaboration with leading research institutions in Romania, Germany, Israel, USA, Canada and the World Health Organization (WHO).

State Coconut Development Board Center

Paper 3 – Agriculture
Why Should You Know?
Recently, Agriculture Minister Shri Narendra Singh Tomar inaugurated the State Center of Coconut Development Board in Junagadh, Gujarat.
In details –
  • On the occasion of World Coconut Day (sept 2) The Union Minister for Agriculture and Farmers Welfare, Shri Narendra Singh Tomar inaugurated the 6th State Centre of Coconut Development Board at Junagadh in Gujarat.
  • Shri Tomar also inaugurated the 24th World Coconut Day celebrations.  In his address, Shri Tomar said that along with coconut cultivation, processing and marketing is also growing in our country and India is also leading in terms of coconut exports.
  • Through the Board, the farmers cultivating coconut are getting the benefits of the government’s schemes and along with increasing their income, they are also contributing to the country’s economy.
  • It is noteworthy that World Coconut Day is celebrated every year on 2nd September to commemorate the Foundation Day of the International Coconut Community (ICC). The main theme of World Coconut Day this year is – Cultivate coconut for a happy future and life.
About Coconut Development Board – CDB
  • Coconut Development Board (CDB) is a statutory body established on 12 January 1981 under the Ministry of Agriculture, Government of India with the objective of coordinated development of coconut crop and industry with focus on productivity enhancement and product diversification in the country.
  • It is headquartered in Kochi (Kerala) and has regional offices at Bangalore, Chennai and Guwahati. The Board has 9 Demonstration-Seed Production (DSP) farms in different parts of the country. A Market Development and Information Center has been set up in Delhi.
  • There are six state centres situated at Bhubaneswar in Orissa, Calcutta in West Bengal, Patna in Bihar, Thane in Maharashtra, Hyderabad in Andhra Pradesh and Port Blair in the Union Territory of Andaman & Nicobar Islands.
  • The Board has set up a Technology Development Center at Vazhakkulam near Aluva in Kerala.
Structure –
  • The Board consists of a Chairman appointed by the Central Government;
  • Horticulture Commissioner, Government of India;
  • Director, Central Plantation Agricultural Research Institute (Indian Council of Agricultural Research);
  • Chairman of the Jute Board constituted under section 4 of the Jute Industries Act, 1953;
  • three members from the Parliament of whom two shall be elected from the Lok Sabha and one from the Rajya Sabha;
  • two members to be appointed by the Central Government to represent the Ministries of Revenue and Food Supplies and Cooperation respectively; One member each representing Kerala, Tamil Nadu and Karnataka by the Central Government being a coconut producing State; and other members appointed by the Central Government.
Functions and Responsibilities of the Board –
  • To take steps for the development of coconut industry.
  • To give technical advice to the areas involved in coconut production and industry.
  • To provide financial and other assistance for expansion of area under coconut cultivation.
  • To encourage adoption of new and modern technology for processing coconut and its products.
  • To take measures to get the incentive price for coconut and its products.
  • To suggest measures to improve the marketing of coconut and its products.
  • To recommend measures for regulation of import-export of coconut and its products.
  • To lay down standards, specification and grading of coconut and its products.
  • To finance suitable schemes to improve the yield and quality of coconut and increase production.
  • To promote, support and finance agricultural, technical, industrial and economic research of coconut and its products.
  • To make and publish statistics on coconut and its products.
  • To undertake promotional activities on coconut and its products and to publish books and periodicals.

LEADS Survey 2022

Paper 3 – Economy
Why Should You Know?
Recently Logistics Division, DPIIT, completes Survey for LEADS (Logistics Ease Across Different States) 2022
In details –
  • The Government of India has prioritised developing a robust and cost-efficient logistics ecosystem. To fulfil this vision, the logistics division of DPIIT, Ministry of Commerce & Industry undertakes an annual “Logistics Ease Across Different States (LEADS)” survey in all States/ UTs to assess and suggest various improvements in logistics sector of the country.
  • The LEADS survey assesses viewpoints of various users and stakeholders across value chain (Shippers, Terminal Infrastructure Service Providers, Logistics Service Providers, Transporters and Government agencies) to understand the ‘enabler’ and ‘impediments’ to logistics ecosystem in the country.
  • The annual survey, processes the data received from stakeholders (perception data) and States/ UTs (objective data) and ranks logistics ecosystem of each State/ UT using a statistical model.
  • In the annual LEADS Report for 2021, Gujarat, Haryana and Punjab held top three ranks among States respectively while Jammu Kashmir, Sikkim and Meghalaya were top three in North-eastern States and Himalayan UTs respectively.
LEADS 2022 Survey –
  • The LEADS 2022 Survey was rolled out in April this year. More than 600 physical meetings were held facilitated by more than 20 National Associations and 75+ Regional Associations across the country. Their active participation has resulted in more than 6,000 responses being collected this year. The States/ UTs too actively participated and provided necessary data pertaining to the survey.
  • The LEADS 2022 survey further propels the transformative approach by of PM-Gati Shakti. It identifies issues and bottlenecks which need immediate action and can help synergize supply chain.
  • The National Master Plan which is being developed in association with BISAG-N now has 900+ GIS layers and 612 essential layers integrated by the States/UTs.
  • The States/UT of Gujarat, Karnataka, Tamil Nadu, Uttar Pradesh, Andhra Pradesh and Goa have been leading in the process of integration of essential data layers.
  • Institutional mechanism for PM GatiShakti, all 36 States/UTs have formed State Logistics Coordination Committee (SLCC), 34 States/ UTs have formed Network Planning Group (NPG) and 35 States/ UTs have formed Technical Support Unit (TSU). 14 States/ UTs have also formed logistics policy of which 3 States/UTs are in draft stage.
  • The LEADS 2022 survey, along with PM GatiShakti’s transformative approach, is to break the silos and improve the logistics efficiency of the country which will also reflect positively on international indices, such as Logistics Performance Index (LPI) conducted biennially by the World Bank. 
  • The LEADS 2022 exercise is scheduled to be completed by the end of September 2022, which shall be followed by release of LEADS 2022 Report in October 2022.

IPEF- First Individual Ministerial Meeting

Paper 2 – International Relations
Why Should You Know?

The Union Minister Shri Piyush Goyal to visit San Francisco and Los Angeles from 5-10 September to attend the first ever in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF).

In details –
  • The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal will visit San Francisco and Los Angeles in the United States of America from 5th to 10th September 2022 to attend the India-US Strategic Partnership Forum conference and Indo-Pacific Economic Framework (IPEF) Ministerial meeting.
  • He will also interact with eminent business persons, US officials  and industry leaders during the visit to fortify the partnership between the two nations and strengthen trade and economic ties.
  • India and the United States (US) enjoy a comprehensive global strategic partnership covering almost all areas of human endeavor, driven by shared democratic values, convergence of interests on a range of issues, and vibrant people-to-people contacts.
  • Regular exchanges at the leadership-level have been an integral element of the expanding bilateral engagement. The outcomes emerging from these visits have been instrumental in further strengthening the multifaceted ties between the two countries.
About Indo-Pacific Economic Framework –
  • India joined the IPEF and Prime Minister Shri Narendra Modi attended the launch event along with US President Joe Biden, Japanese Prime Minister Kishida Fumio and other leaders from partner countries. Previously, virtual Ministerial Meetings were held immediately after the launch on May 23 and thereafter from July 26-27, 2022.
  • The IPEF seeks to strengthen economic engagement among partner countries with the goal of advancing growth, peace and prosperity in the region.
  • The framework is structured around four pillars relating to –
  • Pillar I – Trade
  • Pillar II – Supply Chains
  • Pillar III -Clean Economy
  • Pillar IV – Fair Economy
About the meeting –
  • The meet would focus on strengthening economic cooperation and enhancing resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region.
  • India is committed to a free, open and inclusive Indo Pacific Region and would work towards deepening economic cooperation among partners for growth and prosperity of the region. The framework is inclusive and allows flexibility to partner countries to associate with pillars based on their respective priorities.
  • The Minister will also hold bilateral meetings with US Secretary of Commerce, USTR and Ministers from other IPEF partner countries on the sidelines of the IPEF Ministerial.
  • During the visit, the Minister would interact with the CEOs of multinationals, Indian diaspora, startup community including venture capitalists and academia to propel existing trade and investment relations between Indian and US business communities.
  • The visit would focus upon emphasizing the attractiveness of India as the most preferred investment destination with a number of government interventions such as Gati-shakti, Startup India, Investment Corridors, measures undertaken for ease of doing business and improving investment climate.
  • Shri Goyal will hold discussions upon the need and potential for closer industrial collaborations and further expand partnerships and establish trade and investment linkages across priority areas. Curated interactions with the startup ecosystem and the Indian diaspora that would help in empowering and mentoring their growth and expansion are also on the agenda. The Minister will also launch Institute of Chartered Accounts of India’s (ICAI) representative offices in USA
  • Shri Goyal is expected to interact with globally renowned technology, entrepreneurship, and academic communities in the Bay Area, specifically, in the Silicon Valley to undertake focused discussions with American companies looking to invest or expand in India across sectors – Electronics (including Semiconductor), Technology, FinTech etc.
  • The Minister is to engage with the vibrant Startup community in San Francisco to explore greater partnerships with the Indian startup ecosystem, mobilize global capital for India’s domestic markets, and encourage mentorships by experienced global business leaders for Indian entrepreneurs.

Unique Identification Authority of India

Paper 2 – Governance
Why Should You Know?
Recently UIDAI topped in Grievance Redressal Index during August 2022.
In details –
  • Unique Identification Authority of India (UIDAI) has topped amongst all Ministries/Departments for resolving Public Grievances in the ranking report published by Department of Administrative Reforms and Public Grievances (DARPG) for the month of August 2022.
  • UIDAI has been a top performer in resolution of cases received through Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
  • UIDAI is further committed to serve residents of India, and has been a catalyst for both ease of living and ease of doing business.
  • UIDAI has a robust grievance redressal mechanism in place comprising of UIDAI HQ Divisions, Regional Offices, Technology Centre and engaged Contact Centre partners, which is enabling UIDAI to resolve around 92% of CRM Grievances within 7 days.
  • The organization is dedicated to further strengthen its Grievance Redressal Mechanism and is going to launch State-of-the-art Open Source CRM solution soon.
  • The new Customer Relationship Management (CRM) solution has been designed with advanced features that shall enhance UIDAI service delivery to residents.
  • The new CRM solution shall have the capability to support multi-channels like Phone Call, Email, Chatbot, Web Portal, Social Media, Letter and Walk-in through which the grievances can be lodged, tracked and resolved effectively. It is under advanced stage of implementation and is going to be rolled out soon.
  • Endeavour of the UIDAI is that the residents’ voice must be heard, and residents must be empowered adequately to further enhance trust of residents in the system.
What is UIDAI?
  • The Unique Identification Authority of India (UIDAI) is a statutory authority of India.
  • UIDAI was established as per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016.
  • It is  mandated to collect demographic and biometric information of the country’s residents, store the data in a central database, and issue to each resident of the country a 12-digit unique identity number called Aadhaar.
  • It works under the Electronics & IT ministry.
  • As per the 2016 Act, UIDAI is accountable for the authentication and enrolment of Aadhaar, and also to safeguard the data protection of identity information of individuals
  • Centralised Public Grievance Redress and Monitoring System (CPGRAMS) is an online platform available to the citizens 24×7 to lodge their grievances to the public authorities on any subject related to service delivery.
  • It is a single portal connected to all the Ministries/Departments of Government of India and States. Every Ministry and States have role-based access to this system.
  • CPGRAMS is also accessible to the citizens through standalone mobile application downloadable through Google Play store and mobile application integrated with UMANG.
  • The status of the grievance filed in CPGRAMS can be tracked with the unique registration ID provided at the time of registration of the complainant.
  • CPGRAMS also provides appeal facility to the citizens if they are not satisfied with the resolution by the Grievance Officer.
  • After closure of grievance if the complainant is not satisfied with the resolution, he/she can provide feedback. If the rating is ‘Poor’ the option to file an appeal is enabled.
  • The status of the Appeal can also be tracked by the petitioner with the grievance registration number.

Special Maternity Leave

Paper 2 – Goverance, Social Issues
Why Should You Know?
Recently, the Central Government has announced a special maternity leave of sixty days to all the women employees.
In details –
  • The Centre has decided to grant a 60-day special maternity leave for women Central government employees in case of stillbirth or death of an infant within a few days of birth.
  • The DOPT said it had received several queries seeking clarification on grant of leave in case of death of a child soon after birth.
  • This leave will be given immediately after the birth of the child or in cases of death during delivery. The Department of Personnel and Training issued an order in this regard on September 2, 2022.
  • The Ministry of Personnel, Public Grievances and Pensions said that this decision has been taken keeping in mind the mental agony of death of the child before birth or soon after birth.
  • The ministry said that such cases have far-reaching effects on the life of the mother.
  • The order of the ministry states that if the child dies immediately after birth or within 28 days, then the mother will be eligible for special maternity leave.
  • The mother will get this special leave even if the baby dies in the womb after 28 weeks or so.
  • It has also been said in the order of the ministry that special maternity leave will be given to only those women employees of the central government who have less than two living children and the delivery takes place in an authorized hospital.
  • The order is applicable to government employees appointed to the civil services and posts in connection with the affairs of the Union of India.
What is Still Birth?
  • A stillbirth is the death or loss of a baby before or during delivery. Both miscarriage and stillbirth describe pregnancy loss, but they differ according to when the loss occurs.
  • a miscarriage is usually defined as loss of a baby before the 20th week of pregnancy, and a stillbirth is loss of a baby at or after 20 weeks of pregnancy.
  • Stillbirth is further classified as either early, late, or term.
  • An early stillbirth is a fetal death occurring between 20 and 27 completed weeks of pregnancy.
  • A late stillbirth occurs between 28 and 36 completed pregnancy weeks.
  • A term stillbirth occurs between 37 or more completed pregnancy weeks.

Fifth Largest Economy of World

Paper 3- Economy
Why Should You Know?
According to IMF data’s India becomes fifth largest Economy of world.
In details –
  • India has leaped past the United Kingdom to become the fifth-largest economy in the world.
  • International Monetary Fund said, India took a lead in the final three months of 2021 to become the fifth-biggest economy.
  • According to GDP figures from IMF, India extended its lead in the first quarter. IMF said, the Indian economy is forecast to grow more than 7 per cent this year.
  • A world-beating rebound in Indian stocks this quarter has just seen their weighting rise to the second spot in the MSCI Emerging Markets Index, trailing only China’s.
  • Britain has dropped behind India to become the world’s sixth largest economy, delivering a further blow to the government in London as it grapples with a brutal cost-of-living shock.
About IMF –
  • The International Monetary Fund (IMF) is an agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries.
  • it does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being. The IMF is governed by and accountable to its member countries.
Establishment –
  • The IMF was conceived in July 1944 at the United Nations Bretton Woods Conference.
  • The 44 countries in attendance sought to build a framework for international economic cooperation and avoid repeating the competitive currency devaluations that contributed to the Great Depression of the 1930s.
  • The IMF has three critical missions: furthering international monetary cooperation, encouraging the expansion of trade and economic growth, and discouraging policies that would harm prosperity. To fulfill these missions, IMF member countries work collaboratively with each other and with other international bodies.
Funding –
  • IMF funds come from three sources: member quotas, credit arrangements, and bilateral borrowing agreements.
  • The IMF issues an international reserve asset known as Special Drawing Rights, or SDRs, that can supplement the official reserves of member countries. Total global allocations are currently about SDR 204.2 billion, about $293 billion. IMF members can voluntarily exchange SDRs for currencies among themselves.
Governance –
  • The IMF is accountable to its member country governments. At the top of the organizational structure is the Board of Governors, consisting of one governor and one alternate governor from each member country, usually the top officials from the central bank or finance ministry.
  • The Board of Governors meets once a year at the IMF–World Bank Annual Meetings. Twenty-four of the governors serve on the International Monetary and Financial Committee, or IMFC, which advises the IMF’s Executive Board. 

Agreement between IMF and Sri Lanka

Paper 2 – International Issues
Why Should You Know?
Recently the International Monetary Fund has agreed to provide additional assistance of $ 2 billion 900 million to Sri Lanka.
In details –
  • The Sri Lankan government and International Monetary Fund (IMF) have reached a preliminary agreement for a loan of 2.9 billion dollars to support country’s economic policies with 48-month arrangement under Extended Fund Facility.
  • In a statement, the IMF said that Sri Lanka’s new Fund-supported programme aims to restore macroeconomic stability and debt sustainability.
  • It also safeguarding financial stability, protecting the vulnerable, and stepping up structural reforms to address corruption vulnerabilities and unlock growth potential, the statement added.
  • A senior IMF official Peter Breuer told that the staff level agreement is only the beginning of a long road for Sri Lanka.
  • According to media reports, the agreement is subject to approval by IMF management and its executive board.
  • The IMF also requires receiving financing assurances from Sri Lanka’s official creditors, besides ensuring efforts are made to reach a collaborative agreement with private creditors.
  • Notebly Sri Lanka currently faces its worst economic crisis in seventy years, leading to shortages of food, medicine and fuel.
  • The island nation’s worst economic crisis also led to a shortage of foreign exchange that stalled imports of essential items.

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