Nagorno-Karabakh is present in Caucasus, region which connects Asia and Europe,
this place is blessed with nature's beauty. Mountains, valleys, lakes and flowers make it
serene
Nagorno-Karabakh has a total over 4000 sq km. It is tucked between Armenia and Azerbaijan
Ethnic Armenians in majority in Nagorno-Karabakh
Nagorno Karabakh is internationally recognized as part of Azerbaijan but the Ethnic Armenians
want it to be part of it Armenia, this has led to wars.
Azerbaijan==$3 billion dollar military budget(900 tanks)(900 Artillery of both rocket and gun system)
Armenia== $ 2 billion dollar military budget(300 tanks)(300 Artillery)
150 aircrafts
50 aircrafts
outnumbered armenian surrendered
this infuriated the armenian people
Russia stays neutral
turkiye support azerbhaijan
israel(Second largest weapon supplier),Canada,Belarus, Ukraine
Armenia
Russia netural
iran supports armenia
US softens its side
China supports Armenia
India supports Armenia(New delhi is one of the main suppliers)
India and US consider themselves as strategic partners but now are on opposite sides
of this fight..
Israel also supports Azerbaijan in the fight and it is one of the main suppliers to this country..
Iran also supports Armenia
The Second Nagorno-Karabakh War, which took place in late 2020 between Armenia and Azerbaijan, had
significant economic impacts on the region. Here’s a simple breakdown:
1. Damage and Costs: The war caused extensive damage to infrastructure, homes, and businesses
in the Nagorno-Karabakh region and surrounding areas. Rebuilding these assets requires a
substantial financial investment, which places a heavy burden on both Armenia and Azerbaijan.
2. Economic Disruption: The conflict disrupted normal economic activities, including trade and
agriculture. This led to reduced economic output and increased instability in the region.
3. Increased Military Spending: Both countries had to allocate a significant portion of their budgets
to defense and military expenditures, diverting funds from other critical areas like social services
and economic development.
4. International Aid and Investment: The war led to a call for international aid and investment to
support reconstruction and stabilize the region. This aid can help mitigate some of the economic
losses, but the long-term economic recovery depends on how effectively this aid is used.
5. Political and Economic Uncertainty: The conflict increased political and economic uncertainty in
the region, potentially deterring foreign investment and complicating economic planning.
Overall, the Second Nagorno-Karabakh War had a negative impact on the economies of both Armenia
and Azerbaijan, creating significant costs and long-term challenges for rebuilding and recovery.
Russian Invasion of Ukraine
Overview:
Start Date: February 24, 2022.
Parties Involved:
o Russia: Led by President Vladimir Putin.
o Ukraine: Led by President Volodymyr Zelenskyy.
Causes:
1. Geopolitical Tensions: Russia opposed Ukraine’s growing ties with Western institutions like NATO
and the EU.
2. Annexation of Crimea: Russia had previously annexed Crimea in 2014, worsening relations with
Ukraine.
3. Russian Security Concerns: Russia cited security concerns and alleged threats from Ukraine as
justifications for the invasion.
Key Events:
Initial Invasion: Russia launched a full-scale military assault on Ukraine from multiple directions,
targeting key cities including Kyiv, Kharkiv, and Mariupol.
International Response: Widespread condemnation from the international community, including
economic sanctions imposed on Russia by Western countries.
Military Resistance: Ukraine's armed forces and civilian volunteers mounted a strong defense,
leading to significant military and civilian casualties.
Economic Impact:
1. Global Supply Chains: Disruptions in global supply chains, particularly in energy and food
sectors, due to the war.
2. Energy Crisis: Severe impact on global energy markets, with rising fuel prices and energy
shortages in Europe.
3. Economic Sanctions: Extensive sanctions on Russia affected its economy, including restrictions
on banking, trade, and technology.
Humanitarian Impact:
Displacement: Millions of Ukrainians displaced internally and as refugees in neighboring
countries.
Casualties: Significant loss of life and injuries among both military personnel and civilians.
Consequences:
1. Ongoing Conflict: The war has led to protracted conflict with no clear resolution in sight.
2. International Alliances: Strengthened alliances between Ukraine and Western nations, including
military aid and support.
3. Economic Strain: Both Russia and Ukraine, as well as the global economy, face long-term
economic consequences.
Summary Points:
Invasion Date: February 24, 2022.
Involved Parties: Russia and Ukraine.
Causes: Geopolitical tensions, security concerns, prior conflicts.
Economic Impact: Disruption of supply chains, energy crisis, sanctions.
Humanitarian Impact: Massive displacement and casualties.
Consequences: Prolonged conflict strengthened Western alliances, global economic strain.
This overview provides a snapshot of the 2022 Russian invasion of Ukraine, covering the essential
aspects for understanding its significance and impact.
Economic Crisis in Sri Lanka and Pakistan
Sri Lanka
Reasons:
1. Economic Mismanagement: Poor fiscal policies, including excessive borrowing and subsidies, led
to a debt crisis.
2. Political Instability: Frequent changes in government and political unrest affected economic
stability.
3. COVID-19 Impact: The pandemic severely impacted tourism, a major source of revenue.
4. Foreign Exchange Shortage: A shortage of foreign currency led to difficulties in importing
essentials.
Consequences:
1. Severe Inflation: Skyrocketing prices for goods and services, including food and fuel.
2. Debt Defaults: Sri Lanka defaulted on its foreign debt, leading to international financial strain.
3. Social Unrest: Protests and political instability as people struggled with shortages and economic
hardships.
4. International Aid: Reliance on aid and assistance from international organizations to stabilize the
economy.
Pakistan
Reasons:
1. High Debt Levels: Large external debt and fiscal deficits burden the economy.
2. Political Instability: Political uncertainty and governance issues affect economic policies and
investment.
3. Energy Crisis: Persistent energy shortages impact industrial productivity and economic growth.
4. Inflation and Currency Depreciation: High inflation rates and a weakening currency exacerbate
economic challenges.
Consequences:
1. Economic Slowdown: Slower economic growth and lower investment levels.
2. Social Challenges: Increased poverty and unemployment due to economic strain.
3. Debt Servicing Issues: Difficulty in managing debt repayments affects public spending and
development projects.
4. International Assistance: Dependence on loans and aid from international organizations to
manage the crisis.
Union Budget (India) – 2023 and 2024
Union Budget 2023
Key Points:
1. Focus Areas: Emphasis on infrastructure development, health, and education.
2. Economic Growth: Measures to support economic recovery post-pandemic, including
investment in key sectors.
3. Fiscal Policy: Efforts to maintain fiscal discipline while addressing the needs of a recovering
economy.
4. Social Programs: Increased allocation for welfare schemes, including subsidies and support for
marginalized communities.
Union Budget 2024
Key Points:
1. Growth and Development: Continued focus on boosting economic growth and investment in
infrastructure.
2. Fiscal Responsibility: Balanced approach to fiscal management, aiming to reduce deficits while
promoting growth.
3. Tax Reforms: Potential updates in tax policies to improve compliance and revenue generation.
4. Sustainability: Increased emphasis on environmental sustainability and green energy initiatives.
Summary for Quiz Preparation
1. Economic Crises:
o Sri Lanka: Debt crisis, political instability, inflation, social unrest.
o Pakistan: High debt, political instability, energy crisis, economic slowdown.
2. Union Budget (India):
o 2023: Focus on infrastructure, health, education; fiscal discipline.
o 2024: Continued growth focus, balanced fiscal policy, potential tax reforms,
sustainability.
