Serbian PM moves to oust finance minister, risking election
(Image credit: AFP/Getty Images via @daylife) Indias Finance Minister Palaniappan Chidambaram said despite the tough outlook for government finances, and an election coming up, New Delhi has no plans to overspend to win the hearts and minds of the electorate. On Thursday, the Economic Times reported on a Chidambaram presser on the first anniversary of his role as the countrys finance ministry where he said that state-run companies would be encouraged to raise funds overseas in new bond issues. He also said that the foreign direct investment policy would be liberalized beyond just big box retail and airlines currently as the government tries desperately to bring in money from abroad. Meanwhile, the FinMin did the usual cheerleading, saying he was confident the government could finance the current account deficit now nearly 5% this year without pulling money out of Indias foreign cash reserves.
Michigan Finance Authority revenue notes rates SP-1 -S&P
The schools’ management said it ended fiscal 2013 with a $6 million deficit but expects to report a surplus of approximately $6 million in 2014 due to school closures and possible midyear budget cuts, S&P said. “The rating reflects a pledge of all state aid to be appropriated by the state of Michigan to the Detroit Public Schools starting with fiscal 2014,” the rating company said. The Detroit Public Schools enrollment could fall by as much as 33 percent, and state aid will be sufficient to cover debt service, according to S&P.
“I don’t think Dinkic himself was absolutely central but his participation and his party’s participation in the coalition was important to counterbalance the center-left Dacic,” he said. “PURE POLITICKING” Dinkic has served as central bank governor, finance minister and economy minister under several administrations since the ouster of Serbian strongman Slobodan Milosevic in 2000, when the country began emerging from a decade of war and economic turmoil. He led an unpopular budget reform process this year, trying to stabilize Serbia’s finances and pull the economy out of recession. Analysts say he would have taken a harder line in cutting public sector wages and pensions, but was reined in by Dacic’s Socialists who were strongly against. On Sunday, Dinkic offered to give up his economy portfolio as part of a cabinet reshuffle, but retain the position of finance minister.