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Macroeconomic policies monitoring list
May 1 , 2018
2272 days
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- The US Department of Treasury has included India in the monitoring list of its major trading partners that merit close attention to their currency practices and macroeconomic policies.
- The list was part of a semi-annual report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.
- The US Treasury Department report is required by Congress to identify countries that are trying to artificially manage the value of their currency to gain a trade advantage.
- It uses three parameters to determine currency manipulator
- The bilateral trade surplus with the US to be $20 billion,
- current account surplus at 3% of country’s GDP, and
- net purchases of foreign currency to 2% of country’s GDP over a year.
- India is sixth addition to the watch list which comprises China, Japan, South Korea, Germany, and Switzerland.
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