When the Royal Swedish Academy of Sciences awarded the 2015 Nobel Prize in Economics to Professor Angus Deaton of Princeton University, the accolade had a significant relevance to the United Nations.
The United Nations, which is battling a negative fallout from a corruption scandal tainting the office of a former President of the General Assembly, is facing criticisms on another front: a proposed compensation package that calls for a reduction in the salaries of staffers, mostly at bottom and mid-levels and not senior hierarchy.
The third India-Africa Forum Summit to be held in New Delhi later this month – in which 54 African countries will participaate – is expected to result in a deeper engagement between India and Africa. This summit takes place at a time when both need each other more than ever before. Both remain bright spots in a bleak and blighted growth landscape. Out of 189 countries, only 63 are expected to grow by 4 per cent and more this year, 36 of which are in Africa. But many countries there are adversely impacted by China’s diminishing appetite for commodities and shrinking trade. India is currently one of the fastest growing economies in the world.