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In Pakistan, steep natural gas price hike ahead of review by IMF

An IMF team is scheduled to arrive this week to review benchmarks set for the $3 billion stand-by arrangement it agreed in July

India in 2047

Policy adjustments can enable higher growth

Pak central bank keeps key rate unchanged at 22% ahead of IMF's visit

Inflation rose sharply to 31.4% in September on the back of a record fuel price hike, but the government has since slashed prices at the pump

Prolonged Israel-Hamas war means higher interest rates for longer: IMF

Inflation is still high and that requires interest rates to remain high, throwing more cold water on growth, said IMF

Best of BS Opinion: An update on global capital, supply-side dilemma & more

Here is the best of Business Standard's opinion pieces for today

India's fiscal position 'solid' amid global headwinds: Finance ministry

'West Asia situation, oil prices new challenges'

A difficult choice

Postponing IMF reforms in strategic interest

Will use 2nd IMF tranche to settle outstanding credit: Sri Lanka minister

Sri Lanka would utilise the IMF's second tranche of the bailout deal to settle arrears owed to multilateral creditors while expediting the debt restructuring process, state minister of finance Shehan Semasinghe has said. Sri Lanka is now in a position to receive the second tranche of USD 330 million upon approval of the Staff-Level Agreement by the IMF Executive Board. The Staff-Level Agreement will enable the World Bank, Asian Development Bank, and other multilateral financial institutions to make the remaining payments, further expediting debt restructuring efforts with international partners, Semasinghe said in a statement on Friday. The IMF had, 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. It said, despite showing early signs of stabilisation, the full economic recovery was not yet assured. Sri Lanka's external position had weakened as a result of the .

RBI Governor Shaktikanta Das sticks to stand on crypto assets ban

G20 recently adopted road map on such assets

IMF proposes Pakistan to adopt austerity in new development projects

The IMF suggested that Pakistan's caretaker government should allocate funds for ongoing projects, especially those near completion, instead of starting new ones, as per ARY News

World's higher-for-longer rate era stokes worry among finance officials

Debt levels are at record high levels at the same time that we're in this higher-for-longer interest-rate environment, said Gita Gopinath, No 2 official at IMF

FM Sitharaman pitches for strong, quota-based and adequately resourced IMF

Finance Minister Nirmala Sitharaman on Saturday made a case for a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net and climate action. The 16th General Review of Quotas (GRQ) is expected to provide greater say to developing economies in the International Monetary Fund (IMF). As per an IMF resolution, the 16th GRQ should be concluded by December 15, 2023. Any adjustment in quota shares would be expected to result in an increase in voting rights of emerging countries in line with their relative positions in the world economy. Participating in a breakfast meeting of the IMF Board of Governors on the theme of 'Dialogue on Policy Challenges' in Marrakesh, Morocco, Sitharaman expressed concerns with regard to slowdown in global growth. However, she said, India continues to be the fastest growing large economy with a growth of 7.8 per cent during the first quarter of 2023-24. With regard to escalating global debt vulnerabilities, she ...

Pakistan's railway upgradation project under CPEC subject to IMF approval

One of Pakistan's key railway modernisation projects planned to be built under the China-Pakistan Economic Corridor (CPEC) is in trouble due to the IMF's conditions regarding sovereign guarantees, according to a media report on Saturday. The Main Line-1 (ML-1) aimed to modernise over 1,726 kilometres of colonial-era rail line stretching from Karachi to Peshawar remains subject to IMF approval and the finance ministry's ability to provide sovereign guarantees for a USD 6.67 billion loan from China, even though the project's budget has been cut by 32 per cent, reported the Dawn newspaper. The CPEC is a collection of infrastructure and other projects under construction throughout Pakistan since 2013. Pakistan had secured a last-gasp USD 3 billion bailout from the International Monetary Fund (IMF) on June 30, which later disbursed an initial upfront instalment of about USD 1.2 billion. The debt-trapped nation had given the IMF assurances of USD 8 billion for external payments. A senio

G20 finance ministers and central bank governors adopt crypto road map

Briefing reporters in Marrakesh, Finance Minister Nirmala Sitharaman said the roadmap on crypto assets is the big step forward that came from the FMCBG discussion

India needs structural reforms to achieve higher growth levels: IMF

In response to another question on the impact of a sharp increase in bond yields on emerging markets, Srinivasan said that both the public and private sectors should be careful while borrowing

IMF calls for urgent support from members to increase its quota resources

The IMF said the global economy has shown resilience, but the recovery is slow and uneven

IMF, World Bank urged to boost funding for African nations facing conflict

Many poor countries in Africa face the harshest effects of climate change: severe droughts, vicious heat and dry land, but also unpredictable rain and devastating flooding. The shocks worsen conflict and upend livelihoods because many people are farmers work that is increasingly vulnerable in a warming world. Climate challenges are at the root of vulnerabilities faced by conflict-ridden countries in Africa's Sahel region, such as Burkina Faso, Chad, Mali, Niger and northern Nigeria, experts say. Adapting to these challenges could cost up to USD 50 billion per year, according to the Global Commission on Adaptation, while the International Energy Agency estimates the clean energy transition could cost as much as USD 190 billion a year overwhelming costs for Africa. Countries have limited space in their budgets, and borrowing more to fund climate goals will worsen their considerable debt burdens, argue African leaders, who are seeking a rapid boost in financing. Some leaders suggest

IMF projects inflation, growth risks if Israel-Hamas conflict widens

It's a bit early to know the full implications of the conflict, and much will depend on whether it draws in other countries, Gita Gopinath said

India's debt to GDP ratio to peak at 82.3% in FY25, fall in FY29, says IMF

The IMF's present estimates mark a notable deviation from its April projections

India keen to engage with IMF to purse G20 agenda on resource mobilisation

Finance Minister Nirmala Sitharaman on Wednesday expressed India's keenness to engage with IMF to work with developing countries in facilitating domestic resource mobilisation as endorsed by G20 leaders. Last month, G20 New Delhi Leaders' Declaration urged IMF and the World Bank, in coordination with other relevant international institutions, to support efforts at enhancing domestic resource mobilisation in emerging market and developing economies (EMDEs). During the meeting with International Monetary Fund (IMF) managing director Kristalina Georgieva on the sidelines of the Annual Meetings of IMF-WB, in Marrakech, Morocco, Sitharaman thanked IMF for support during the G20 India Presidency, including Digital Public Infrastructure (DPI) related work and promotion for tech-driven economic growth and productivity gains. She also appreciated IMF's role with regard to policy work for crypto assets and the related G20 roadmap for global coordination within and beyond G20 countries, the .