Inflation in Pakistan is taking a serious toll on the lives of the locals as the income of a household has fallen by at least 35 per cent while the cost of living under basic facilities of food and shelter has surged by 40 to 50 per cent.
The IMF said Afghanistan's neighbours would be further hit because they rely on its funds for trade, the report said.
Most of the downgrades in the region come from emerging market and low-income countries, led by India and the Association of Southeast Asian Nations.
The house prices also increased as supply chain disruptions raised the costs of several inputs into the construction process.
IMF's Fiscal Affairs Department Deputy Director Paolo Mauro said the situation is improving when it comes to the epidemic.
According to the International Monetary Fund (IMF) projections released on Tuesday, India will continue to be the world's fastest growing major economy, clocking a growth rate of 9.5 per cent this fiscal year and 8.5 per cent in the next.
Our engagement with Afghanistan has been suspended until there is clarity within the international community on the recognition of the government, IMF spokesperson Gerry Rice said.
The International Monetary Fund (IMF) has proposed to set up an international carbon price floor to help limit global warming and achieve the transition toward low carbon growth over this decade.
The International Monetary Fund (IMF) has proposed $50 billion to speed up vaccinations, boost testing and tracing, and maintain adequate stocks of therapeutics, urging coordinated global action to end the Covid-19 pandemic.
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Washington: India’s debt to GDP ratio increased from 74 per cent to 90 per cent during the COVID-19 pandemic, the International Monetary Fund has said, noting that it expects this…
Washington: India’s recently-enacted agri laws have the potential to increase farmers’ income, but there is a need to provide a social safety net to the vulnerable cultivators, IMF’s Chief Economist Gita Gopinath has said. Indian agriculture is in need of reforms, she said. There are multiple areas where the reforms are needed, including infrastructure, the […]
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Washington: The International Monetary Fund (IMF) and the World Bank Group (WBG) have called on countries to keep trade open as the world battles the COVID-19 pandemic, warning that export controls on medical supplies and other essentials could backfire. At a virtual press conference during the just-concluded spring meetings of the two multilateral institutions, IMF […]
Washington: Global COVID-19 deaths surpassed 150,000 with over 2.2 million infections on Friday as international institutions are intensifying their collective efforts on battling the pandemic. A total of 150,948 people have died of the disease as of 3:30 p.m. (1930 GMT) among 2,214,861 cases worldwide, according to the Center for Systems Science and Engineering (CSSE) […]
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Islamabad: The visiting IMF mission has asked Islamabad “to reduce its trade and commerce reliance on Beijing” and look for other international options by signing free trade agreements (FTA) with other countries too, a media report said on Friday. The development comes as the mission has extended its stay in Pakistan for making more efforts […]
Washington: India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels while ensuring a more accommodative fiscal stance in the budget, the IMF has said. Responding to a question on the budget presented by Union Finance Minister Nirmala Sitharaman, International Monetary Fund […]
Davos: The IMF on Monday lowered India’s economic growth estimate for the current fiscal to 4.8 per cent and listed the country’s much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years. In October, the International Monetary Fund (IMF) had pegged India economic growth at 6.1 per cent […]
Washington: India is now in the midst of a significant economic slowdown, the International Monetary Fund has said, urging the government to take urgent policy actions to address the current prolonged downturn. In its report released Monday, the IMF Directors noted that India’s rapid economic expansion in recent years has lifted millions of people out […]
New Delhi: IMF Chief Economist Gita Gopinath on Friday said that regulatory uncertainty in India is one of the reasons for the ongoing economic slowdown. Speaking at an event here, the Chief Economist of the International Monetary Fund (IMF) said that although reforms are important for an economy, they should come with clarity and certainty […]
Washington: The International Monetary Fund on Friday supported India’s recent decision to reduce corporate income tax, saying it has a positive impact on investment. It, however, said India should address continued fiscal consolidation and secure long-term stability of the fiscal conditions. “We believe India still has limited fiscal space so they have to be careful. […]