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Podcast: In Focus by The Hindu
Episode: Is Russia's economic resilience realigning the global economic order
Description: Western sanctions had initially threatened to derail the Russian economy ever since the country invaded Ukraine. However, Russia has shown a resilience that has surprised observers, and which has the potential to realign the global economic order. In a recent article for Business Line, Biswajit Dhar, Professor of Economics at the JNU, points out how observers’ projections for Russia’s GDP contraction and the rouble’s sharp fall have had to be revised as the year progressed.He points out that in its April forecast, the IMF had predicted Russia’s economy would contract by 8.5% in 2022, an improvem...