Indian Prime Minister Manmohan Singh’s latest skirmish with corruption risks setting back efforts to spur growth, worsening a legislative logjam under a government set to pass the fewest bills ever in a full term.
Doubling Japan’s sales tax by 2015 won’t be enough to contain the nation’s growing debt load and the government needs to outline how it will pay for swelling social-welfare expenses, a Standard & Poor’s analyst said.
Standard & Poor’s says if the Bank of Japan increases Japanese government bond purchases that could help the nation overcome deflation, adding to pressure on the bank to consider further monetary stimulus.
Standard & Poor’s said Japanese Prime Minister Yoshihiko Noda’s administration hasn’t made progress in tackling the public debt burden, an indication it may be preparing to lower the nation’s sovereign grade.
Prime Minister Naoto Kan ’s election loss could lead to a downgrade of Japan’s credit rating should it hamper his ability to address the world’s largest public debt, Standard & Poor’s and Moody’s Investors Service said.
Disruptions in Japan’s power supply after the world’s strongest earthquake in more than six years may affect the country’s economic output and hurt the rest of the region, Standard & Poor’s Ratings Services said today.
Sitting in the study of the prime ministerial bungalow in New Delhi, surrounded by manicured lawns and palm trees, Indian leader Manmohan Singh and his soon-to-be finance minister Palaniappan Chidambaram pored over plans late into the evening to stem a growing sense of crisis.
Yoshihiko Noda becomes Japan’s sixth leader in five years, seeking a consensus to raise taxes to pay for rebuilding from the March earthquake and nuclear disaster and reduce the world’s largest debt. He’s unlikely to get it.