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Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Nirmala Sitharaman to visit Mexico and US from October 17 to October 26

Tue, Oct 15, 2024

Finance Minister Nirmala Sitharaman is scheduled to leave on Tuesday night for an official visit to Mexico and the US, during which she will attend a host of meetings including annual gatherings of the IMF and the World Bank, and the G20 Finance Ministers' meetings with central bank governors. The finance minister will also engage i bilateral meetings with several countries and organisations during this official trip.

IMF pledges continued support for Sri Lanka's economic reforms

IMF pledges continued support for Sri Lanka's economic reforms

Sat, Oct 05, 2024

The International Monetary Fund (IMF) said that it will continue its close engagement with Sri Lanka's economic team to set a date for the third review of the IMF-supported program. An IMF team led by Krishna Srinivasan, director of the Asia Pacific Department, visited Sri Lanka from October 2 to October 4.

Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Mon, Aug 12, 2024

International Monetary Fund (IMF) Executive Director Krishnamurthy V Subramanian said India's private credit to GDP ratio was 58 per cent in 2020, six decades behind the advanced economies which are now at 200 per cent, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'.

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Net zero goal calls for USD 5 trillion in annual green investments: IMF

Net zero goal calls for USD 5 trillion in annual green investments: IMF

Tue, Nov 28, 2023

The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28, will be the 28th United Nations Climate Change Conference, which will be held from November 30 until December 12, 2023, in Dubai.

What IMF Executive Director KV Subramanian Said On Unemployment in India?

What IMF Executive Director KV Subramanian Said On Unemployment in India?

Tue, Nov 07, 2023

An Executive Director at the International Monetary Fund, Krishnamurthy V Subramanian explained why the current unemployment rate is at a five-year low. According to Subramanian If you go by the reliable Periodic Labour Force Survey data put out by the NSSO, it is absolutely clear that both in quantity and in quality, the employment situation had improved before the pandemic and has also improved since then. It is a fact that during the lockdown and during the second wave, the employment situation did worsen and this is something that is very clearly shown in the PLFS data which further enhances the trustworthiness of the PLFS data.

IMF upgrades China's 2023, 2024 GDP growth forecasts

IMF upgrades China's 2023, 2024 GDP growth forecasts

Tue, Nov 07, 2023

The upward revision followed a decision by China to approve a 1 trillion yuan ($137 billion) sovereign bond issue and allow local governments to frontload part of their 2024 bond quotas, in a move to support the economy.

Asia's factories squeezed as China's nascent recovery teeters

Asia's factories squeezed as China's nascent recovery teeters

Wed, Nov 01, 2023

The Chinese survey echoed a downbeat official PMI reading on Tuesday, which also showed an unexpected contraction in activity, casting doubt over recent hopes of a recovery in the world's second-largest economy.

IMF projects slow global growth amid ongoing challenges

IMF projects slow global growth amid ongoing challenges

Mon, Oct 30, 2023

Advanced economies are also anticipated to experience a decline, dropping from 2.6 per cent growth in 2022 to 1.5 per cent in 2023 and 1.4 per cent in 2024.

Sri Lanka and IMF reach staff-level agreement for disbursal of second tranche of bailout package

Sri Lanka and IMF reach staff-level agreement for disbursal of second tranche of bailout package

Fri, Oct 20, 2023

The International Monetary Fund in March this year approved a 48-month, USD 2.9 billion extended arrangement under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms.

IMF says China property slowdown will weigh on Asia's growth

IMF says China property slowdown will weigh on Asia's growth

Wed, Oct 18, 2023

The report projected that a prolonged housing market correction in China would in the near term "trigger greater financial stress among property developers and larger asset quality deterioration".

IMF steering committee calls for new funds, share plan by June 2025

IMF steering committee calls for new funds, share plan by June 2025

Sun, Oct 15, 2023

"In order to maintain the Fund’s current resource envelope until a quota increase becomes effective, we call on the Executive Board to propose transitional arrangements," the statement said.

India to be one of world's fastest growing economies over next decade

India to be one of world's fastest growing economies over next decade

Sat, Oct 14, 2023

After two years of rapid economic growth in 2021 and 2022, the near-term economic outlook for India is for continued rapid expansion during 2023-24, underpinned by strong growth in private consumption and investment, S&P Global Market Intelligence said in a recent update.

India has high debt like China, but risks are moderated: IMF

India has high debt like China, but risks are moderated: IMF

Wed, Oct 11, 2023

India has a high debt like that of China but the risks associated with it are not as great as that of its northern neighbour, a senior official from the International Monetary Fund has said, advising India in the medium term to have an ambitious fiscal consolidation plan that brings down deficits.

IMF cuts China growth forecast amidst its real estate crisis

IMF cuts China growth forecast amidst its real estate crisis

Wed, Oct 11, 2023

Global economic activity bottomed out at the end of last year while inflation is gradually being brought under control.

IMF says global economy 'limping along,' cuts growth forecast for China, euro area

IMF says global economy 'limping along,' cuts growth forecast for China, euro area

Tue, Oct 10, 2023

Inflation continued to decline around the globe due to a fall in energy prices and to a lesser extent food prices. It is expected to drop to an annual average of 6.9 per cent in 2023.

IMF raises India's GDP growth forecast for 2023-24 to 6.3%

IMF raises India's GDP growth forecast for 2023-24 to 6.3%

Tue, Oct 10, 2023

The IMF maintained its forecast for the country's economy for the next financial year at 6.3 per cent.

IMF urges pact to boost its resource quota, strengthen world economy

IMF urges pact to boost its resource quota, strengthen world economy

Sun, Sep 10, 2023

The G20 summit also pledged to strengthen and reform multilateral development banks, while accepting a proposal to regulate cryptocurrencies more tightly worldwide.

IMF sets mid-September dates for Sri Lanka bailout review Colombo

IMF sets mid-September dates for Sri Lanka bailout review Colombo

Sat, Aug 12, 2023

The IMF is all set to conduct the first review of the USD 2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.

Non-basmati white rice: IMF encourages India to remove export restrictions

Non-basmati white rice: IMF encourages India to remove export restrictions

Wed, Jul 26, 2023

IMF on rice export from India 2023: The International Monetary Fund has said it would encourage India to remove restrictions on export of a certain category of rice, which, it said, would have an impact on global inflation.

IMF projects Indian economy to grow at 6.1 per cent in 2023

IMF projects Indian economy to grow at 6.1 per cent in 2023

Tue, Jul 25, 2023

The IMF on Tuesday projected a growth rate of 6.1 per cent for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection.

Sri Lanka debt treatment: India to play 'constructive role' as co-chair of Creditors Committee

Sri Lanka debt treatment: India to play 'constructive role' as co-chair of Creditors Committee

Sun, Jul 09, 2023

The Deputy High Commissioner said that the past three years have demonstrated the close links between the people of India and Sri Lanka.

Pakistan set to topple Ecuador to become 4th biggest IMF debtor: report

Pakistan set to topple Ecuador to become 4th biggest IMF debtor: report

Mon, Jul 03, 2023

Pakistan will move to the fourth place in this list when it receives another USD 3 billion in the next nine months under the Stand-By Arrangement made with the Washington-based global lender on Thursday.

Pakistan, IMF reach $3bn deal after 8 months of delay

Pakistan, IMF reach $3bn deal after 8 months of delay

Fri, Jun 30, 2023

"The economy has faced several external shocks such as the catastrophic floods in 2022 that impacted the lives of millions of Pakistanis and an international commodity price spike in the wake of Russia's war in Ukraine," the BBC quoted Nathan Porter, IMF's mission chief for Pakistan, as saying in a statement issued on Friday.

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