Current Affairs 10 May 2025

India abstains from voting on IMF’s bailout package for Pakistan.

• India abstained from voting on the IMF Board's bailout package for Pakistan, citing concerns over misuse of funds.
• India questioned the effectiveness of IMF programs for Pakistan, given its poor track record in implementation.
• The IMF reviewed a $1 billion Extended Fund Facility and a $1.3 billion Resilience and Sustainability Facility for Pakistan.

2nd edition of the Indo-UAE Cybersecurity Exchange in Dubai.

• The Data Security Council of India (DSCI) hosted the second edition of the Indo-UAE Cybersecurity Exchange in Dubai, reinforcing bilateral cooperation in the digital security domain.
• Organized in partnership with CIO Klub, the event took place alongside GISEC Global 2025 at the Dubai World Trade Centre.

Indian Navy's IOS Sagar Strengthens Maritime Cooperation in IOR.

• The Indian Ocean Ship Sagar completed its maiden month-long deployment, fostering naval collaboration across nine IOR nations.
• The ship made port calls in Tanzania, Mozambique, Mauritius, Seychelles, and the Maldives, engaging in joint exercises and patrols.
• AIKEYME 2025 saw participation alongside INS Chennai & INS Kesari, reinforcing India-Africa maritime partnerships.

India Identifies Key Corridors for Zero-Emission Trucking.

• Prof. Ajay Kumar Sood released a report highlighting ten priority highway corridors for zero-emission trucking Developed with IIT Madras, Rocky Mountain Institute, and pManifold, the report aims to accelerate India's transition to sustainable freight transport.
• Nearly 40% of fuel consumption in India comes from long-distance trucks, making Zero-Emission Trucks crucial for reducing emissions.

India’s Credit Rating Upgraded to "BBB" with Stable Trend.

• Morningstar DBRS upgraded India’s Long-Term Foreign and Local Currency Issuer Ratings from BBB (low) to BBB with a stable trend.
• India’s Short-Term Foreign and Local Currency Issuer Ratings were also upgraded to R-2 (high) from R-2 (middle).
• Key drivers include structural reforms, fiscal consolidation, high growth, macroeconomic stability, and a strong banking system.