Daily current affairs 18th October

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October 18, 2022

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# UNDP

  • As many as 415 million people exited multidimensional poverty in India in 15 years (2005-6 to 2019-20).
  • The incidence of poverty has shown a steep decline from 55.1% to 16.4% according to UNDP’s multidimensional poverty index 2022.
  • Report also added that India continues to have the largest number of poor people worldwide at 228.9 million in 2020.
  • The report has been produced by UNDP and Oxford poverty and human development index.

# United Kingdom

  • The UK’s new treasury chief ripped up the government’s economy plan on Monday, dramatically reversing most of the tax cuts and spending plans that the new PM Liz truss announced less than a month ago.
  • While the reversal of policy calmed financial markets and helped restore the government’s economic credibility, it further undermined the PM’s rapidly crumbling authority.
  • Hunt was appointed as the new treasury chief on Friday.

# Pakistan

  • Pakistan is likely to exit the grey list of the Financial action task force this week.
  • Pakistan was placed in the grey list in 2018 for failing to check money laundering and terror financing.
  • Pakistan’s continuation on the grey list has made it difficult for islamabad to get financial aid from the IMF and world Bank.

# China

  • China delayed the release of economic indicators scheduled for publication this week including its September quarter GDP data.
  • The highly unusual delay comes amid the week long congress of the ruling communist party, a twice a decade event that is especially a very sensitive time in China.

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