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by Bajan Reporter / March 10th, 2021 Less tax revenues and more social spending during the Covid-19 pandemic have led to an increase in borrowing and consequentially in the national debt. The consolidated public debt closed in 2020 at about US$53 billion. Yet, the The Central Bank released on 4 March the report “ Public Debt and Financial marks in Times of the Pandemic.” The report concludes that as the foreign exchange generating sectors are reactivated, there will be a gradual reduction of the debt. “ Consolidated public debt closed 2020 at about US$53 billion. If nominal GDP in dollars had simply maintained its 2019 level, some US$89 billion, instead of falling to some US$79 billion as estimated in 2020, the consolidated public debt, would have stood at around 59.5% of GDP, some 10 percentage points lower than the figure recorded last year of 69.2% of GDP,” ....
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Synopsis The beauty of bull markets are they race ahead of themselves most times, correct sharply, pause for some time and resume their upward journey. Shutterstock.com For the recently initiated one, this is the time to observe and learn the irrationality of markets, from a very rational, non-ebullient perspective. Related On Monday, the domestic equity market took a tumble and the Sensex shed around 1,400 points in a single day. The media went bonkers, equating it to a cataclysmic event like the Indian cricket team being bowled out for 36 runs. The headlines cited all sorts of reasons for the fall – from a new strain of coronavirus to the pace of recovery in global markets – all in a single day. If this continues for a few days, one is quite likely to see recently-blooded equity investors to wistfully look at the bull market and wonder – to paraphrase Shakespeare – Et tu, ‘Bull’-tus? ....