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Putin Sacks Russia's Defence Minister, Replaces him with an Economist | Vantage with Palki Sharma

Firstpost・38 minutes read

India and China are in a border dispute, Russia reshuffles leadership, Pakistan buys defense equipment from China, the IMF warns the Maldives, India participates in elections, superbugs pose a pandemic risk, and pro-democracy protests erupt in Tunisia. France launches a road safety campaign, Pakistan buys heavy weapons, the IMF warns Maldives of high debt, India assists Maldives, India signs a key deal with Iran, Tunisia faces protests, and India invests in a diamond planet.

Insights

  • Pakistan's economic challenges have led to high imports of defense equipment from China, resulting in a significant increase in debt and a heavy reliance on Chinese loans.
  • The Maldives faces a precarious financial situation, with high debt levels, particularly owed to China, prompting the President to seek additional loans despite warnings from the IMF about potential debt distress and high import prices.

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Recent questions

  • What is the current situation between India and China?

    Tensions are high at the border with troop deployments.

  • What recent changes occurred in Russia's government?

    Vladimir Putin replaced the defense minister with an economist.

  • What economic challenges is Pakistan facing?

    Pakistan is buying defense equipment and offering grants amidst protests.

  • What warning did the IMF issue to the Maldives?

    The IMF highlighted financial concerns and debt distress.

  • What is the significance of India's Chabahar deal with Iran?

    India invested in a port in Iran for connectivity and bypassing Pakistan.

Related videos

Summary

00:00

Global Geopolitical and Economic Updates: May 2019

  • India and China are currently locked at the border with tens of thousands of troops deployed on both sides, despite being top trading partners.
  • Russia undergoes a major reshuffle as Vladimir Putin replaces his longtime ally, the defense minister, with an economist in the middle of a war.
  • Pakistan, facing economic challenges, buys defense equipment from China and offers a grant to Pakistan-occupied Kashmir amidst protests over high electricity prices.
  • The IMF issues a warning to the Maldives, highlighting financial concerns.
  • India participates in the fourth phase of the general election, with significant highlights.
  • The concept of super bugs and their potential to lead to a pandemic is discussed, with India being particularly at risk.
  • Pro-democracy protests erupt in Tunisia, the birthplace of the Arab Spring.
  • India's Chabahar deal with Iran is back in focus, with the shipping minister traveling to Tehran during the general election.
  • Turkey unveils a three-year austerity plan to tackle high inflation, including limiting recruitment and transport spending for public servants.
  • France launches a road safety campaign urging men to "drive like a woman" after reports of men causing 80% of deadly road accidents in the country.

17:30

"Pakistan and Maldives face economic challenges"

  • Pakistan recently purchased heavy weapons like submarines from China, costing between 4 to 5 billion dollars.
  • Pakistan's economic situation is dire, leading to high imports of defense equipment from China and increasing debt.
  • The Stockholm International Peace Research Institute (SIPRI) report highlights Pakistan's military expenditure as 145% of government spending, much higher than other countries.
  • The International Monetary Fund (IMF) warns the Maldives of high debt levels and potential debt distress due to high import prices and reliance on tourism.
  • Maldives' debt, especially to China, is significant, with total foreign debt exceeding $3 billion and public debt at almost 188% of GDP.
  • Maldives' President seeks more loans from China to repay existing debts, despite IMF warnings and high debt levels.
  • India provides assistance to the Maldives, subscribing to a treasury bill and offering financial support, as the Maldives faces economic challenges.
  • The ongoing general election in India involves voting in 96 constituencies across 10 states and union territories, with the last phase on June 1st and counting on June 4th.
  • Drug-resistant superbugs pose a significant threat globally, with India facing high levels of antibiotic resistance due to misuse and overuse of antibiotics.
  • Tunisia experiences protests following the arrest of lawyer Sonia dman, a critic of President Kai s, sparking demands for the release of imprisoned opposition leaders and a date for the next presidential election.

34:19

Tunisia's President Faces Opposition and Criticism

  • Migrants from Sub-Saharan Africa faced ridicule in Tunisia, sparking public anger and opposition against the Tunisian president.
  • The president's actions, including arrests of critics and journalists, have led to accusations of increasing authoritarianism.
  • Tunisia's Parliament was dissolved in 2021, with the president ruling by decree, described as a self-coup.
  • The president's grip on power has raised concerns about the upcoming elections and the country's stability.
  • India signed a significant deal to operate its first foreign port in Iran's Chabahar, investing $120 million and extending loans worth $250 million.
  • The deal with Iran is crucial for India's connectivity to Central Asia, Russia, and bypassing Pakistan, potentially challenging China's investments in the region.
  • The project faced delays but was expedited after warnings from Iran, showcasing India's commitment to the deal despite Western sanctions on Iran.
  • The agreement with Iran sets a template for future overseas projects, demonstrating India's capabilities in heavy infrastructure development.
  • Scientists have discovered a planet, 55 Cancri e, made of diamond, located 41 light years away, with potential for thousands of similar diamond planets in the galaxy.
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