US Treasury Removes India From Its Currency Monitoring List
India was removed off the US Department of Treasury`s Currency Monitoring List along with Italy, Mexico, Thailand, and Vietnam. According to the Department of Treasury`s biannual report to Congress, the seven economies that are now under observation are China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan.
Report Pointed:
According to the research, China stands out among large economies due to its failure to disclose foreign exchange intervention and general lack of openness about important aspects of its exchange rate system. This makes China a candidate for Treasury`s strict monitoring.
The countries that have been removed from the list have met only one out of three criteria for two consecutive reports, it said.
About India: The Timing:
The move came on a day when Secretary of the Treasury Janet Yellen visited New Delhi and held talks with Finance Minister Nirmala Sitharaman. On her first visit to India, United States Treasury Secretary Janet Yellen quoted President Joe Biden, saying that India is an “indispensable partner to the United States”.
“That’s particularly true today. I believe that these urgent challenges are bringing India and the United States closer together than ever before,” she said.
Speaking at the US-India Businesses and investment Opportunities event in New Delhi, Janet Yellen said that the US will be extending support to India’s presidency in G20 to achieve shared global priorities.
###India-Russia-Iran Holds Trilateral Meet on Afghanistan on Sidelines of Moscow Format
On November 16, Moscow hosted the fourth meeting of the Moscow Format Consultations on Afghanistan. India was present. Participants in the summit included special envoys and high-ranking representatives from China, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.
What Has Been Said:
"Afghanistan-related issues, including the current humanitarian situation and the ongoing efforts of various stakeholders to provide assistance, intra-Afghan talks, formation of an inclusive and representative government, efforts to counter threats of terrorism, and ensuring regional security" were discussed during the meeting, according to the Ministry of External Affairs.
About Moscow Format:
- It was introduced in 2017 on the basis of the six-party mechanism for consultations among special representatives from Russia, Afghanistan, China, Pakistan, Iran and India.
- The Moscow format meeting’s main objective is to facilitate the national reconciliation process in Afghanistan and secure peace in that country as soon as possible.
India`s Earlier Engagements:
Indian delegation and Taliban officials had come face-to-face for the first time at the Moscow Format meeting in Russia in 2021. JP Singh, the joint secretary who heads the Pakistan-Afghanistan-Iran desk in the external affairs ministry, had led the Indian delegation at the Moscow Format.
In a significant departure from India’s stand on engaging the Taliban, the government for the first time participated at a “non-official” level, sending two former senior diplomats to attend talks on the Afghanistan peace process which was held and hosted by Russia.
###CEC Shri Rajiv Kumar Invited as International Observer for Elections in Nepal
The Election Commission of Nepal has invited Chief Election Commissioner Rajiv Kumar to participate as an international observer in the upcoming elections for the House of Representatives and Provincial Assembly of Nepal, according to the Election Commission.
Rajiv Kumar will be leading a delegation of ECI officials as State guest in Nepal from 18 November to 22 November, 2022, the poll panel said. During his visit Kumar would be visiting Polling stations at Kathmandu and areas around.
ECI also has a similar International Election Visitors Program where members from other Election Management Bodies are invited to experience firsthand our General and Assembly Elections held periodically.
About Nepal’s Election:
Elections are scheduled in Nepal on 20 November to elect 275 members of the Federal Parliament and 550 seats of the seven Provincial Assemblies.
A total 330 seats in the seven provincial houses will be decided directly; the remaining 220 seats will be filled by proportional representation.