Rupee is not sliding, dollar is strengthening, says India’s Finance Minister in US
WASGINGTON: Finance Minister Nirmala Sitharaman has said that the rupee has not weakened but it is the dollar that has strengthened, as she defended the 8 per cent slide in the value of Indian currency against the greenback this year. Speaking to reporters after attending the annual meetings of the International Monetary Fund (IMF) and […]
When everyone is slowing, India in relatively bright spot than others: IMF
WASHINGTON: When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday. Just look at the global conjuncture right now, which is the overarching problem, IMF […]
India’s Finance Minister to leave for US on Tuesday to attend IMF, World Bank meetings
NEW DELHI: India’s Finance & Corporate Affairs Smt. Nirmala Sitharaman will be traveling to the USA on an official visit beginning October 11, 2022. During her visit, Sitharaman will be attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, the G20 Finance Ministers and Central Bank Governor (FMCBG) Meetings. The […]
Talks between Pakistan, IMF for $1 billion loan tranche inconclusive: Report
ISLAMABAD: The fresh rounds of talks between Pakistan and the International Monetary Fund for the release of USD 1 billion loan tranche and a good economic certificate to the nation has remained inconclusive, a media report said on Sunday. The talks held from October 4 to 15 failed to reach a staff level agreement because […]
India must capture all segments of financial market to fuel growth: IMF
NEW DELHI: India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to […]
Farm bills have potential to represent significant step forward for agriculture reforms in India:IMF
By Lalit K Jha WASHINGTON: The IMF believes the farm bills passed by the Indian government have the potential to represent a significant step forward for agricultural reforms, but a social safety net is needed to protect those who might be adversely impacted during the transition to the new system, a spokesperson of the global […]
IMF official warns coronavirus will weigh on some economies for years
By Andrea Shalal WASHINGTON:The coronavirus crisis is lasting longer than expected and it will take some countries years to return to growth, the No. 2 official at the International Monetary Fund said on Wednesday. The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start […]
Room for more fiscal support in India in near term given severity of economic situation: IMF
By Lalit K Jha WASHINGTON: A top IMF official has said that there is room for more fiscal support in India in the near term, particularly for vulnerable households and SMEs, given the severity of the country’s economic situation due to the COVID-19 pandemic. Vitor Gaspar, Director of the International Monetary Fund’s Fiscal Affairs Department, […]
IMF MD ropes in Raghuram Rajan, 11 others to key external advisory group
NEW DELHI: IMF MD Kristalina Georgieva on Friday named former RBI governor Raghuram Rajan and 11 others to her external advisory group to provide perspectives from around the globe on key developments and policy issues, including responses to the exceptional challenges the world now faces due to the coronavirus pandemic. Rajan, 57, who was the […]
IMF calls for ‘urgent’ action by India amid slowdown
NEW DELHI: India’s government must take steps quickly to reverse the economic slowdown of an economy that has been one of the engines of global growth, the International Monetary Fund (IMF) said Monday. Declining consumption and investment, and falling tax revenue, have combined with other factors to put the brakes on one of the fastest […]
IMF economist hints India’s dream to achieve $5 trillion economy doubtful
NEW DELHI: The International Monetary Fund (IMF) is set to join other downbeat analysts and cut the growth estimate for India “significantly”, its India-born chief economist Gita Gopinath said on Tuesday. The Washington-based institution had come out with an estimate in October and will be reviewing the same next month in January, she said at […]
Unemployment fuels unrest in Arab states: IMF
DUBAI: Unemployment and sluggish economic growth are fuelling social tension and popular protests in several Arab countries, the International Monetary Fund (IMF) said Monday. The unrest is in turn contributing to slower growth in the Middle East and North Africa (MENA) region, alongside global trade tensions, oil price volatility and a disorderly Brexit process, the […]
Important for India to keep fiscal deficit in check: IMF’s Gita Gopinath
NEW DELHI: It is important for India to keep fiscal deficit in check, even though its revenue projections look optimistic, Chief Economist of the International Monetary Fund (IMF) Gita Gopinath has said. As against India’s real growth rate of 6.8 per cent in 2018, the IMF in its latest World Economic Outlook, released on Tuesday, […]
IMF urges Pakistan to mobilise domestic tax revenue
By Lalit K Jha WASHINGTON: The IMF has urged Pakistan to mobilise domestic tax revenues to provide for the social and development spending and place debt on a downward trend. The statement of International Monetary Fund (IMF) Acting Managing Director David Lipton came after he met Prime Minister Imran Khan who is on a three-day […]
Pakistan economy critical, facing major challenges due to weak growth: IMF
WASHINGTON: Pakistan is facing “significant economic challenges” due to a weak and unbalanced growth and that its economy is at a critical juncture where it needs an ambitious and bold set of reforms, the IMF has said. Cash-strapped Pakistan, which currently has a currency reserve of less than $8 billion — enough to cover only […]
Trillions in USA net worth vulnerable to recession: IMF
WASHINGTON: A severe recession would slash US public wealth by about USD 5 trillion, causing vastly more damage to Washington’s finances than just an increase in debt and deficits, the International Monetary Fund (IMF) has warned. Yet governments around the world, many of which face similar dangers, do not clearly publicise their overall net worths, […]