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Tag: Imf

Despite IMF Projections, India Still Among Fastest Growing Economies: FM Sitharaman

Washington: India remains among the fastest growing economies of the world and efforts are being made to make it grow faster, said Union Finance Minister Nirmala Sitharaman. The International Monetary Fund (IMF) has projected a reduced growth rate for India, but the country’s economy is “still growing as the fastest”, she told a group of […]

IMF Cuts India's FY20 Growth Forecast To 6%

New Delhi: The outlook for the Indian economy for the current fiscal seems to get bleaker by the day as major economic forums and institutions have of late revised the country’s GDP forecast downwards, with the International Monetary Fund (IMF) being the latest in the fray. The IMF in its World Economic Outlook released on […]

IMF warns of economic slowdown in 90 per cent of world

Washington: The new managing director of the International Monetary Fund (IMF) Kristalina Georgieva warned of an economic slowdown in 2019 in 90 per cent of the world during her first speech at the helm of the multilateral organization. “In 2019, we expect slower growth in nearly 90 per cent of the world. The global economy […]

Economist Surjit Bhalla named Executive Director for IMF

New Delhi: The Indian government has appointed economist Surjit S Bhalla as the executive director of the International Monetary Fund (IMF) for a period of three years. An Appointments Committee of the Cabinet (ACC) order said that Bhalla would hold the position for three years from the date of assuming the charge. “The Appointments Committee […]

India's GDP Growth Rate 'Much Weaker' Than Expected: IMF

Washington: India’s economic growth is “much weaker” than expected, according to the International Monetary Fund (IMF), which attributed it to the corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. India’s GDP growth rate slipped to 5 per cent in the first quarter of 2019-20, the lowest in over six years, […]

India's current account balance deficit grew to $68bn in 2018-19: IMF

United Nations: India’s current account (CA) balance deficit grew to $68 billion in 2018-19 from $49 billion the previous year, according to the International Monetary Fund (IMF), which said the deficit was justified by development needs. The External Sector Report of the IMF released on Wednesday by Chief Economist Gita Gopinath also found that India’s […]

RBI Governor suggests recalibration of policy rates at IMF event in US

Washington: RBI Governor Shaktikanta Das on Friday proposed to his peers on the sidelines of an International Monetory Fund (IMF) event here that the monetary policy can be well served by calibrating the size of the policy rate, instead of the 25 basis points (bps) unit. Das said that “if the unit of 25 basis […]

India to be global growth leader in 2019-20: IMF

United Nations: The International Monetary Fund’s (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India’s economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps. India will continue to be the world’s fastest […]

Pakistan to seek largest loan package from IMF

Islamabad: Pakis­tan is seeking its largest loan package of up to $8 billion from the International Monetary Fund (IMF) to bail itself out from a severe crisis that threatens to cripple its economy, according to diplomatic sources. The sources told Dawn news on Wednesday that the IMF could place strict conditionalities, forcing Pakis­tan to seek […]

IMF gives credit for reforms under Modi, projects India as fastest growing

United Nations: The International Monetary Fund (IMF) on Tuesday acknowledged the economic reforms carried out under Prime Minister Narendra Modi and projected India to be the world’s fastest growing major economy this year and next. The World Economic Outlook (WEO) released ahead of the IMF annual meeting in Bali said, “In India, important reforms have […]

Strong Indian economy continues to lead global growth: IMF

Washington: India is a source of growth for the global economy for the next few decades and it could be what China was for the world economy, the IMF said today, as it suggested the country to take steps towards more structural reforms. “India now contributes, in purchasing power parity measures, 15 per cent of […]

India fastest growing economy at 7.4% in 2018: IMF

United Nations: The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive. The IMF’s Asia and Pacific Regional Economic Outlook report said that India was […]

IMF sees India's GDP growth at 7.4% in 2018-19

United Nations: The International Monetary Fund (IMF) on Monday reaffirmed that India’s economy is projected to grow by 7.4 percent in the next fiscal year, regaining the rank of the world’s fastest-growing large economy as China slows down. Like India’s improving economic performance, the global economy was also on the uptick, estimated to have grown by […]

IMF hails upswing in global economic activity

Washington: The International Monetary Fund has hailed the strength of the global economy at the close of the annual meetings of the World Bank Group and the IMF. “The outlook is strengthening with a notable pickup in investment, trade and industrial production, together with rising confidence,” the IMF’s International Monetary and Financial Committee said in […]

IMF favors three structural reforms in India

Washington: The IMF has suggested a three- pronged approach for structural reform in India that includes addressing the corporate and banking sector weaknesses, continued fiscal consolidation through revenue measure, and improving the efficiency of labour and product markets. Deputy Director Asia Pacific Department of IMF, Kenneth Kang, said the favorable outlook for Asia was an […]

IMF chief worried about Brexit uncertainty

Washington: IMF Managing Director Christine Lagarde has said the European Union and Britain need to show progress in talks on Britain’s exit from the European bloc to ease concerns about the effects of Brexit. “Brexit is an ongoing process and our hope is that it be conducted promptly to reduce the level of uncertainty and […]

IMF raises global growth forecast over broad-based recovery

Washington: The International Monetary Fund (IMF) on Tuesday raised its global growth forecast for 2017 and 2018 due to a broad-based recovery in Europe, China, Japan and the US. In its latest World Economic Outlook, the IMF forecast that the global economy will grow by 3.6 per cent in 2017 and 3.7 per cent in […]

'Raghuram Rajan among probables for Nobel Prize in economics'

New Delhi: Former RBI Governor Raghuram Rajan features in the list of probables for this year’s Nobel Prize in Economics, The Wall Street Journal has reported. He is one of the six economists on the list of probable winners complied by Clarivate Analytics, a company that does academic and scientific research and maintains a list […]

Obama for higher share for India in IMF

New Delhi: US President Barack Obama today affirmed his commitment to enhancing India’s ‘voice and vote’ in global financial institutions like IMF. Obama and Prime Minister Narendra Modi emphasised the importance of strengthening international financial institutions, including the International Monetary Fund (IMF), said a joint statement issued after a meeting between the two leaders here. […]

G-20 meet
G20 regrets delay in IMF reforms; India says cant wait for long

The G20 countries on Sunday said they "deeply regret" delay in IMF quota reforms and asked the US to make it effective before April, while India's central bank Governor Raghuram Rajan asserted that emerging countries cannot wait for long for the reform to go through

Forex reserves plunge sharply to USD 292 billion

After a marginal pick up last week, India's foreign exchange reserves fell sharply by USD 1.208 billion to USD 292.08 billion for the week to Janaury 17 on the back of drop in core currency assets, RBI said on Friday