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Beyond market ideology

Sunanda Sen's new book challenges financial liberalisation, arguing that volatile capital flows can constrain policymaking and undermine industrial development in emerging economies

Global economy in tug-of-war between oil shock and AI boom: IMF chief

The global economy has weathered the oil shock caused by the closure of the Strait of Hormuz "better than feared" due to various factors, including an investment boom in artificial intelligence, IMF Managing Director Kristalina Georgieva has said. "What started out as a US phenomenon with AI is now becoming a growth engine for the global economy, with other countries ramping up construction of data centres and other infrastructure," Georgieva told journalists on Tuesday. She said the global economy had "weathered the energy shock caused by the closure of the Strait of Hormuz better than we feared" due to a combination of factors, including drawdowns of oil and gas reserves and increases in non-Gulf supply. "And it is enjoying the tailwinds from an AI investment boom, most notably in the US, where both corporate earnings and consumer demand remain strong," Georgieva said ahead of the G-20 finance ministerial meeting in Asheville, North Carolina, next week. She said the global econom

IMF estimates Indian economy will hit $5 trillion in FY29: FM Sitharaman

Indian economy is set to cross USD 5-trillion mark in FY29 as per the International Monetary Fund (IMF) and the government has adopted a broad-based growth strategy to achieve the milestone, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday. As per the World Economic Outlook database (April 2026) published by the IMF, India's GDP at current prices is projected to be around USD 5.1 trillion by 2028-29, she said in a written reply. "The government has adopted a broad-based growth strategy focusing on enhancing agricultural productivity, promoting manufacturing, supporting MSMEs, expanding infrastructure, improving logistics and ease of doing business, creating an efficient and streamlined tax system through income tax and GST reforms, fostering innovation and digitalisation, strengthening human capital, and ensuring energy security," she said. The strategy is complemented by sustained emphasis on public capital expenditure, liberalising the FDI regime, boosting ..

IMF urges stronger AI safeguards as India deepens financial sector adoption

The multilateral institution warned that rapid AI adoption could amplify systemic and cyber risks, urging stronger oversight, governance and international cooperation

Weekly economy wrap: India advances Indo-Pacific ties; IMF cuts growth view

Strap India deepened Indo-Pacific partnerships through deals with Australia, New Zealand and Indonesia, even as oil risks prompted growth downgrades and weakened the rupee

Beyond chips, IMF warns AI wealth boom could fuel inflation risks

Booming technology stocks are swelling retirement accounts and investment portfolios, leaving consumers feeling richer and more willing to spend on vacations, homes and other big-ticket purchases

GDP estimate discrepancies will disappear after revisions: Mospi secy

Mospi is overhauling India's statistical system with new indices, AI integration and sharper data tools, aiming for higher accuracy, speed and granularity in economic data

World isn't ready for shocks that are piling up: IMF chief Georgieva

Georgieva, who's been at the helm of the Washington-based lender since 2019, has been through the Covid pandemic, the war in Ukraine, the tariffs turmoil and now the conflict in the West Asia

IMF, World Bank, others warn West Asia conflict straining energy supplies

They said that the world economy remained resilient, but the conflict was disproportionately affecting poorer countries through ‌higher fuel and fertiliser prices, increased uncertainty, and job risks

IMF backs targeted relief over broad subsidies amid oil price surge

The multilateral institution has urged governments to avoid broad-based subsidies and instead adopt targeted fiscal measures to manage inflation and protect vulnerable households

IMF, World Bank meetings show limits in mitigating shocks, reliance on US

The IMF and the World Bank pledged up to a combined $150 billion in new financing assistance for developing countries hit hardest by the massive energy price shock

IMF urges targeted buffers, reforms for India amid West Asia shock

IMF advises India to deploy fiscal buffers through targeted support as prolonged West Asia crisis could intensify energy shocks and disrupt growth across Asia

Fiscal demands: Rising global public debt poses risk to growth outlook

As the IMF data shows, governments refinancing debt at higher interest rates have seen interest payments rise sharply over the past few years, from 2 per cent to about 3 per cent of global GDP

India's strong growth outlook intact despite global volatility: Govt

Anuradha Thakur, Secretary in the Department of Economic Affairs, said India continues to stand out as a reliable and rapidly expanding economic partner

Surge in US debt supply may raise global borrowing costs, warns IMF

The IMF pointed to a narrowing gap between the yields of AAA rated corporate bonds and Treasuries as a sign of reduced appeal for US government securities

IMF lifts India FY27 growth to 6.5% as lower US tariffs offset risks

IMF has raised India's FY27 growth forecast to 6.5 per cent, saying lower US tariffs could offset the impact of West Asia tensions even as global growth and trade outlook weaken

Policy challenge: Oil shocks and monsoon risks cloud India's outlook

The brunt of the war and persistent geopolitical tensions could vary across countries, with economies dependent on imported energy likely to face a greater impact

India got highest number of regressive tax recommendations from IMF: Oxfam

India received the highest number of regressive tax recommendations from the International Monetary Fund (IMF) between 2022 and 2024, according to an analysis by Oxfam. The analysis, released ahead of the IMF and World Bank spring meetings in Washington, has flagged that the global body is applying "double standard" by giving largely progressive advice to wealthy countries while suggesting regressive measures for others that are "likely to exacerbate inequality". The report said 59 per cent of the IMF's tax advice to low- and lower-middle-income countries was regressive, while 52 per cent of its recommendations to high-income countries were progressive. A regressive tax refers to a uniform taxation system which burdens those in lower income groups more than high earners. In contrast, a tax levied in proportion to one's income is termed progressive. Oxfam examined 1,049 tax recommendations made by the IMF to 125 countries between 2022 and 2024 and found that only 30 recommendations,

IMF, World Bank meet to assess fallout of Trump's Iran war on growth

IMF chief Kristalina Georgieva warned that the international community is becoming less able to respond to shocks

Pain due to war unavoidable; fight inflation despite growth hit: IMF chief

IMF chief Kristalina Georgieva on Thursday asked central banks grappling with the impact of the US-Israel war on Iran to fight inflation even at the cost of growth, arguing that "pain was an unavoidable consequence of any conflict". In her speech at the IMF Headquarters here, Georgieva also cautioned policymakers from across the world to reject "go-it-alone" actions such as export controls and price controls which can further upset global conditions. "A word of caution upfront: this being a classic negative supply shock, demand adjustment is unavoidable. We cannot go through it without some pain," she said, referring to the impact of costlier oil on global economies. "Policy makers can help to reduce this pain in multiple ways. Certainly, one way they can help is please do not make matters worse. So, I appeal to all countries to reject go-it-alone actions export controls, price controls, and so on that can further upset global conditions: don't pour gasoline on the fire," Georgie