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Asia now world's largest debtor and saver; high risk of debt distress: IMF

Asia's economies will need to focus on fiscal stability in order to offset surging debt and to support monetary policy, the International Monetary Fund has warned.

Act now to bring down inflation, safeguard financial stability: IMF Chief

The International Monetary Fund on Thursday urged policy makers across the world to act now to bring down inflation, put in place responsible fiscal policy, safeguard financial stability and carry reforms to address climate change, make digitalisation work for people and address inequality. Speaking to reporters at a press conference here, IMF Managing Director Kristalina Georgieva said, "The IMF is working with our 190 members on these issues. Our economic analysis is front and centre to help countries navigate this complex environment and avoid policy mistakes. Describing it as a difficult global environment, Georgieva said the world economy has been hit by one shock after another the coronavirus pandemic, Russia's invasion of Ukraine and climate disasters on every continent. They continue to harm people's lives and they have caused a cost-of-living crisis, she noted. The immediate toll is clear. On Tuesday, we cut our global growth forecast to 2.7 per cent in 2023. Across many .

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

India's deployment of cash transfer scheme is a 'logistical marvel': IMF

The IMF has described India's deployment of a direct cash transfer scheme and other similar social welfare programmes as a "logistical marvel", saying there is a lot to learn from the country which is one of the most inspiring examples of the application of technology to solve complicated issues. The aim of DBT (Direct Benefit Transfer) is to transfer the benefits and subsidies of various social welfare schemes directly in the bank account of the beneficiary on time by bringing efficiency, effectiveness, transparency and also to eliminate the intermediary body. According to the government data, more than Rs 24.8 lakh crore has been transferred through Direct Benefit Transfer (DBT) mode since 2013, Rs 6.3 lakh crore in the financial year 2021-22 alone; on an average over 90 lakh DBT payments are processed daily as per data of FY22. "From India, there is a lot to learn. There is a lot to learn from some other examples around the world. We have examples from pretty much every continent

India's economy faces significant external headwinds, says IMF

Earlier this week, the Washington-based fund lowered India's growth forecast by 0.6 percentage points to 6.8% for the year ending March 2023 -- the biggest downgrade among major economies after the US

India macro indicators may return to FY20 levels by FY27, says IMF

Although China's debt to GDP ratio is projected to remain at 76.9 in 2022, it is projected to overtake India's ratio in 2024 at 89.8 and continue to increase further to 102.8 in 2027

India's debt ratio projected to be 84% of its GDP by end of 2022: IMF

India's debt ratio is projected to be 84 per cent of its GDP by the end of 2022, which is higher than many emerging economies, but its debt is a little bit easier to sustain, a senior IMF official has said. Stressing that it is important for India to now have a very clear medium-term objective on the fiscal, Paolo Mauro, Deputy Director, Fiscal Affairs Department, International Monetary Fund, said there's still not a whole lot of clarity on the fiscal anchor. "It would be very important to give reassurance to people and to investors that things are under control, and things are going to become less vulnerable over time," Mauro, told PTI in an interview. "In terms of the debt ratio, India right now at the end of 2022, we're projecting it at about 84 per cent of GDP. That is higher than in many emerging economies, he said. Of course, India has a lot of special features being the most populous country in the world by now and being a very large, emerging economy, he said. The other ..

IMF says China important player; cautions against moving out manufacturing

Observing that China has been a very important player in global supply chains, a top International Monetary Fund (IMF) official on Tuesday said that anything which undermines this process of efficiency and productivity will have its costs. At the end of the day, we have to think in terms of efficiency, gain and losses. China has been a very important player in global supply chains, and for good reasons, Krishna Srinivasan, IMF Director of the Asia and Pacific Department, told PTI in an interview. Srinivasan was responding to a question on the move by companies in the US and Europe to shift their manufacturing base to other countries of the world. Anytime you go for something driven by non-economic considerations, say sourcing goods from a friend-country (friend-shoring) you risk undermining efficiency. So, one has to think of this in a very objective way, Srinivasan said. At the end of the day, what do you want from this? he said. We have seen trade being an engine of growth not j

When everyone is slowing, India in relatively bright spot than others: IMF

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 Director of Asia and Pacific Department, Krishna Srinivasan, said, adding that the growth was "slowing across many parts of the world even as inflation is rising". "We expect countries accounting for 1/3 of the global economy to go into a recession this year or the next. And inflation is rampant. So that is the overarching story, Srinivasan told PTI in an interview. Almost every country is slowing. In that context, India is doing better and is in a relative bright spot compared to the other countries in the region, Srinivasan said. The IMF on Tuesday in its World Economic Outlook projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2

IMF cuts India's FY23 GDP forecast to 6.8%, flags global inflation crisis

Slashes it by 60 bps; says worst yet to come for world

A troubled world: IMF paints a bleak picture

The growth projection for India has been lowered to 6.8 per cent for this fiscal year

'Worst is yet to come': IMF's gloomy forecast for global economy in 2023

The International Monetary Fund (IMF) has predicted a tough 2023 as it cut growth predictions and forecast economic contraction in a third of the world, media reports said

IMF lowers growth outlook for 2023 global economy to 2.7% amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia's war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic. The 190-country lending agency forecast Tuesday that the global economy would eke out growth of just 2.7% next year, down from the 2.9% it had estimated in July. The IMF left unchanged its forecast for international growth this year a modest 3.2%, a sharp deceleration from last year's 6% expansion. The bleaker forecast was no surprise. IMF Managing Director Kristalina Georgieva, noting the grim backdrop to this week's fall meetings of the IMF and the World Bank in Washington, warned that the risks of recession are rising'' around the world and that the global economy is facing a period of historic fragility.'' In its latest estimates, the IMF slashed its outlook for growth in the United States to 1.6% this year,

India lost out more than its peers in forecast revisions for 2022

The IMF had revised India's forecast from 1.6 percentage points from 9 per cent in January 2022 to 7.4 per cent in July 2022

Developing economies will need $1 trn in RE sector to achieve net-zero: IMF

The IMF on Friday said that developing economies needed an investment of USD 1 trillion a year by 2030 solely in the renewable energy sector to stay on track to achieve the net-zero greenhouse gas emissions target by 2050. Observing that emerging markets and developing economies account for two-thirds of global greenhouse gas emissions and many are highly vulnerable to climate hazards, the International Monetary Fund said these developing economies would need significant climate financing in the coming years to reduce their emissions and to adapt to the physical effects of climate change. The investment needs of these economies solely in renewable energy could reach USD 1 trillion a year by 2030 if they are to stay on track to achieve net-zero greenhouse gas emissions by 2050, it said, adding that developing economies alone will require up to USD 300 billion a year by 2030 to adapt agriculture, infrastructure, water supply, and other parts of their economies to counterbalance the ...

World could lose $4 trillion in economic output between now and 2026: IMF

The global economic outlook is darkening and the risks of recession are quickly rising as per the International Monetary Fund, which said it will once again lower its growth projections

Global economy moving from 'relative predictability' to uncertainty: IMF MD

The global economy is moving from a world of relative predictability to one of greater uncertainty, IMF chief Kristalina Georgieva has said, warning that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year. In a major policy speech here ahead of the annual meeting of the International Monetary Fund (IMF) and the World Bank, IMF Managing Director Georgieva on Thursday said the World Economic Outlook to be released next week would further downgrade the global growth projections. We have downgraded our growth projections three times already, to only 3.2 per cent for 2022 and 2.9 per cent for 2023. And as you will see in our updated World Economic Outlook next week, we will downgrade growth for next year, she said. We will flag that the risks of recession are rising. We estimate that countries accounting for about one-third of the world economy will experience at least two consecutive quarters o

140 organisations worldwide ask IMF to issue $650 bn to help poor nations

Allocating more IMF reserve assets known as special drawing rights, or SDRs, "would immediately make hundreds of billions of dollars available to nearly all low- and middle-income IMF member countries

IMF warns of higher recession risk and darker global outlook in 2023

The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by USD 4 trillion through 2026. Kristalina Georgieva, managing director of the IMF, told an audience at Georgetown University on Thursday that things are more likely to get worse before it gets better. Georgieva said the institution downgraded its global growth projections already three times, to 3.2 per cent for 2022 and now 2.9 per cent for 2023.

Open-end investment funds a potential vulnerability to assets markets: IMF

Open-end investment funds, which have grown significantly to USD 41 trillion globally in the first quarter of 2022, pose a major potential vulnerability to the asset markets, the IMF said on Tuesday and called for greater international regulatory coordination to ensure their effectiveness. In its latest edition of the global financial stability report, the International Monetary Fund noted that open-end funds play an important role in financial markets, but those that offer daily redemptions while holding illiquid assets can amplify the effects of adverse shocks by raising the likelihood of investor runs and asset fire sales. This contributes to volatility in asset markets and potentially threatens financial stability, it said. These concerns are particularly pertinent now as central banks normalise policy amid heightened uncertainty about the outlook. A disorderly tightening of financial conditions could trigger significant redemptions from these funds and contribute to stress in .