| The International Monetary Fund (IMF) has just released its bi-annual update to its flagship publication the World Economic Outlook (WEO). Having the sub-title “Adjusting to Lower Commodity Prices” the report is both provocative as well as portentous. Provocative because it raises some fundamental questions on the assumptions that have guided policy makers around the world recently.
It is portentous because the scepticism over recent policy assumptions will lead to a different way of looking at the global economy, its strength and weaknesses. The key question is whether the steady decline in commodity prices around the world has been an unmixed blessing it has been claimed to be? For us In India,that question would appear most inappropriate,After all ,one of the tangible benefits of the global decline in oil prices has had a visible impact on day to day living ..............................................Full Article: Source
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