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LIVE! Modi, Trump talk over phone, discuss key bilateral issues

09:10  Modi, Trump talk over phone, discuss key bilateral issues:  

Prime Minister Narendra Modi and United States president Donald Trump held a telephonic conversation during which they took positive note of bilateral cooperation in areas of defence, counter terrorism and energy, officials said.

 

During the conversation, they exchanged new year greetings and expressed satisfaction at the continued growth of the India-US strategic partnership in 2018, they said.

They also appreciated developments such as the launch of the new two plus two dialogue mechanism and the first ever trilateral summit of India, US and Japan.

The two leaders also took positive note of the growing bilateral cooperation in defence, counter-terrorism and energy, besides the co-ordination on regional and global issues, the officials said.

During the conversation that took place last evening, Modi and trump also agreed to continue to work together for further strengthening of India-US relation in 2019. — PTI 

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08:30  Gita Gopinath joins IMF as its 1st female chief economist:  

Mysore-born Gita Gopinath has joined International Monetary Fund as its chief economist, becoming the first woman to occupy the top IMF post.

 

Gopinath’s joined last week at a time, when she believes the world is experiencing a retreat from globalisation, posing challenges to multilateral institutions.

The John Zwaanstra professor of International Studies and Economics at Harvard University, Gopinath, 47, succeeds Maurice (Maury) Obstfeld as Economic Counsellor and Director of the IMF’s Research Department. Obstfeld retired December 31.

Announcing her appointment on October 1, IMF Managing Director Christine Lagarde described her as “one of the world’s outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience.”

The 11th chief economist of the IMF, Gopinath in a recent interview to The Harvard Gazette described her appointment at the IMF as a “tremendous honour” and said the appointment of the first ever woman for this position speaks highly of IMF’s Managing Director Lagarde.

“She is phenomenal, not just in her leadership of the IMF but as a role model for women around the world,” she said.

Identifying some of her top priorities at the IMF, Gopinath told The Harvard Gazette that she would like the IMF to continue to be a place that provides intellectual leadership on important policy questions.

“Among the research issues that I would like to push, one would be understanding the role of dominant currencies like the dollar in international trade and finance. We could do more on the empirical side to try to understand countries’ dollar exposures and on the theoretical side in terms of the implications for international spillovers, consequences of dollar shortages, etc,” she said.

Most countries invoice their trade in dollars and borrow internationally in dollars. This is a central part of the international price system and the international financial system and it will be exciting to explore its consequences in greater depth with the IMF, she said.

Gopinath considers the perceived retreat from globalisation as one of the top challenges being faced by the IMF. — PTI

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00:03  Trump to visit US-Mexico border on Thursday:  

US President Donald Trump will visit the US-Mexican border this week, his spokeswoman said on Monday, in the latest bid to pressure Congress over border wall negotiations that have led to a partial government shutdown.

  

He will “travel to the Southern border on Thursday to meet with those on the frontlines of the national security and humanitarian crisis,” Sarah Sanders said in a tweet.

There was no further information on where Trump would travel.

The visit was announced as the White House and Democrats controlling the lower house of Congress refused to cede significant ground in what has become one of the biggest political challenges of Trump’s turbulent presidency.

Trump is demanding more than $5 billion to fund construction of what he calls a “wall” to stop illegal immigrants. Democrats have dismissed the project as a political stunt.

In retaliation Trump has refused to sign a wider spending package — leaving swaths of the government without funding and hundreds of thousands of employees facing delays in their paychecks.

The standoff has morphed from a debate over how to stem illegal immigration to a powerplay between the president and a Democratic Party enjoying control of the House of Representatives following their victory in November’s mid-term legislative elections.

Source: Rediff