Today's Headlines - 13 August 2023
Katchatheevu island a political issue
GS Paper - 2 (Polity)

Ahead of Sri Lankan President Ranil Wickremsinghe’s visit to New Delhi, Tamil Nadu Chief Minister MK Stalin wrote to PM Modi requesting him to retrieve the island. The transfer of Katchatheevu to Sri Lanka, by the Union government, without the state government’s consent, has deprived Tamil Nadu fishermen’s rights and adversely impacted their livelihoods.

Where is the island of Katchatheevu?

Katchatheevu is a 285-acre uninhabited speck in the Palk Strait, between India and Sri Lanka.
It is no more than 1.6 km in length and slightly over 300 m wide at its broadest point.
It lies northeast of Rameswaram, about 33 km from the Indian coast. It is about 62 km southwest of Jaffna, at the northern tip of Sri Lanka, and 24 km away from the inhabited Delft Island, belonging to Sri Lanka.
The only structure on the island is an early 20th century Catholic shrine – St Anthony’s church. During an annual festival, Christian priests from both India and Sri Lanka conduct the service, with devotees from both India and Sri Lanka making the pilgrimage.
This year, 2,500 Indians made the journey to Katchatheevu from Rameswaram for the festival.
Katchatheevu is not suited for permanent settlement as there is no source of drinking water on the island.
What is the island’s history?

The island is relatively new in the geological timescale, being the product of a 14-century volcanic eruption.
In the early medieval period, it was controlled by the Jaffna kingdom of Sri Lanka. In the 17th century, control passed to the Ramnad zamindari based out of Ramanathapuram, about 55 km northwest of Rameswaram.
It became part of the Madras Presidency during the British Raj. But in 1921, both India and Sri Lanka, at the time British colonies, claimed Katchatheevu in order to determine fishing boundaries.
A survey marked Katchatheevu in Sri Lanka, but a British delegation from India challenged this, citing ownership of the island by the Ramnad kingdom.

What is the agreement now?

In 1974, Indira Gandhi made attempts to settle the maritime border between India and Sri Lanka, once and for all.
As a part of this settlement, known as the ‘Indo-Sri Lankan Maritime agreement’, Indira Gandhi ‘ceded’ Katchatheevu to Sri Lanka.
At the time, she thought the island had little strategic value and that ceasing India’s claim over the island would deepen its ties with its southern neighbour.
Moreover, as per the agreement, Indian fishermen were still allowed to access Katchatheevu “hitherto”. Unfortunately, the issue of fishing rights was not ironed out by the agreement.
Sri Lanka interpreted Indian fishermens’ right to access Katchatheevu to be limited to “rest, drying nets and for visit to the Catholic shrine without visa”.
Another agreement in 1976, during the period of Emergency in India, barred either country from fishing in the other’s Exclusive Economic Zone.
Again, Katchatheevu lay right at the edge of the EEZs of either country, retaining a degree of uncertainty with regards to fishing rights.

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Today's Headlines - 25 August 2023
BRICS currency in BRICS Summit
GS Paper - 2 (International Relations)

Brazil's President called for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa.

Why does Brazil want a BRICS currency?

Brazil's president doesn't believe nations that don't use the dollar should be forced to trade in the currency, and he has also advocated for a common currency in the Mercosur bloc of South American countries.
A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session.
What do other BRICS Leaders think?

South African officials had said a BRICS currency was not on the agenda for the summit.
In July, India's foreign minister said, "there is no idea of a BRICS currency". Its foreign secretary said before departing for the summit that boosting trade in national currencies would be discussed.
Russian President Vladimir Putin said the gathering, which he attended via videolink, would discuss switching trade between member countries away from the dollar to national currencies.
China has not commented on the idea. President Xi Jinping spoke at the summit of promoting "the reform of the international financial and monetary system".
Is the US Dollar in trouble?

BRICS leaders have said they want to use their national currencies more instead of the dollar, which strengthened sharply last year as the Federal Reserve raised interest rates and Russia invaded Ukraine, making dollar debt and many imports more expensive.
Russia's sanctions-imposed exile from global financial systems last year also fuelled speculation that non-western allies would shift away from the dollar.
The objective, irreversible process of de-dollarisation of our economic ties is gaining momentum, Putin told the summit.

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