Page 22 - Imf

IMF raises Asia's growth forecast to 4.6%; India, China to be key drivers

The agency, however, slashed next year's growth forecast for Asia by 0.2% to 4.4%

IMF pins hope on India for global economic revival in, says report

International Monetary Fund (IMF) pinned its hopes on India for global economic revival as it continues to remain a relative "bright spot" in the world economy, Asia Lite reported.

IMF Chief Kristalina says rising rates exposed banking vulnerabilities

Georgieva's comments Monday come as US regulators continue efforts to shore up the banking sector, which has been rattled by the Federal Reserve's aggressive interest-rate hikes

Amid pressure from IMF, Pak Army chief visits China to further defence ties

Pakistan's Army chief General Asim Munir has arrived in China on a four-day official visit aimed at boosting bilateral defence ties. This is Gen. Munir's fourth overseas visit ever since he took command of the Pakistan Army in November last year. In January, he visited Saudi Arabia and United Arab Emirates (UAE) on his first official visit abroad since his appointment. A month later, he visited the United Kingdom on a highly important visit on Britain's Ministry of Defence invitation to discuss security-related strategic issues. After his UK visit, Gen Munir again visited the UAE. "COAS is on a four-day official visit to China for enhancing bilateral military relations, the army's media wing said in a statement on Monday without providing any further details about the trip. It is common for the new army chief in Pakistan to undertake a visit to China within weeks of his appointment. The delay this time is attributed to the internal situation in Pakistan. The visit comes amidst ..

Pakistan struggles to secure loans from global lenders, says report

The fall is attributed to non-renewal of the IMF programme. Because of the delay in finalising the deal with the global lender, Pakistan faced difficulties in obtaining international loan

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IMF likely to have erred on India's growth forecast, says RBI paper

Some recent moderation in credit growth; delinquencies reducing except in credit cards, study loans

China as a creditor

Sovereign debt restructuring has become tricky

LIVE: UP CM takes cognizance of Prayagraj case, calls high-level meeting

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IMF has no excuse to delay loan, Pak was not created to act like beggar: PM

PM Shehbaz referred to the terms of the global lender for seeking loan agreements and said that the government made every effort to meet them

Pak Army chief played role in securing funds from Saudi, UAE: PM Sharif

Pakistan's Prime Minister Shehbaz Sharif on Saturday disclosed that Army Chief General Asim Munir played a role in securing funds from Saudi Arabia and the UAE -- a pre-condition by the IMF to seal a bailout deal with the cash-strapped nation. Addressing a ceremony here, Sharif also expressed hope that now the IMF will not delay in reaching an agreement for USD 1.1 billion sought by Pakistan. "Chief of Army Staff General Asim Munir has contributed to the government's efforts to secure funds from Saudi Arabia and the UAE," Sharif said. Debt-ridden Pakistan and the IMF have failed to reach a staff-level agreement on the much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt. The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations. Earlier, the Pakistani Army had announced that Gen.

IMF trims 2023 global growth projections over stress in financial sector

The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy and Russia's war in Ukraine

Crypto issue requires immediate attention, says FM Nirmala Sitharaman

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister Nirmala Sitharaman has said. Sitharaman was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at the IMF's headquarters here on Friday. India currently holds the rotating annual presidency of G20 countries. Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector. The brainstorming session was attended by global experts on this issue. In her remarks, Sitharaman said the G20 acknowledges the work of the International Monetary Fund (IMF) and the Financial Stability Board (FSB) in bringing out key elements of policy and regulatory framework. She also said a synthesis paper, which

Ukraine to receive financial assistance of $4.5 bn from IMF amid war

Last month, the IMF approved a four-year Extended Fund Facility program for Ukraine in the amount of $15.6 billion to support the country's stability and economic recovery

PM Modi calls for mass movement in global fight against climate change

Prime Minister Narendra Modi has said that an idea becomes a mass movement when it moves from "discussion tables to dinner tables" as he called for people's participation and collective efforts in combating climate change. He also told a gathering of world leaders via video link on Friday that when people become conscious that simple acts in their daily lives are powerful, there will be a very positive impact on the environment. "People across the world hear a lot about climate change. Many of them feel a lot of anxiety because they do not know what they can do about it. They are constantly made to feel that only governments or global institutions have a role. If they learn that they can also contribute, their anxiety will turn into action," Modi said while addressing the World Bank-organised "Making it Personal: How behavioral change can tackle climate change" conference. Modi hailed the World Bank for organising the event on impact of behavioural change on climate change, saying .

India projected to grow at 7% in 2022-23, says Sitharaman at IMF meet

She highlighted that conducive domestic policy environment along with the Indian government's focus on structural reforms has kept domestic economic activity in India robust

Fed should alter its monetary policy framework: IMF's Gita Gopinath

She said central banks should be more willing to tolerate inflation below target at a time when unemployment is already low

UAE assures Pakistan of $1-billion loan to revive IMF relief deal

Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund

India played key role in IMF's clearance of 48-month EFF to Sri Lanka

India played a crucial role in the International Monetary Fund (IMF's) clearance of a 48-month Extended Fund Facility (EFF) worth USD 2.9 billion to crisis-hit Sri Lanka, reported True Ceylon

Post-pandemic development requirements becoming lot more focussed: FM

Speaking at a press briefing in Washington on Thursday, Union Finance Minister Nirmala Sitharaman said that the third pillar will now have to be sustainable goals and other climate-related objectives, climate funding, and so forth.Underlining how India's presidency has brought attention to the necessity to incorporate these factors while still being compatible with World Bank objectives and not merely balancing on them, Sitharaman said that New Delhi from its presidency very clearly highlighted that it's going to be how a perfect balance is traced the developmental goals and climate finance.Addressing the media queries, Sitharaman also highlighted the post-pandemic development requirements and laid emphasis on how the focus should lie on them, solely."Not just development funding for low-income countries, post-pandemic development requirements becoming lot more focussed. We're also highlighting core 2 things for World Bank - extreme poverty alleviation & bringing prosperity post