Page 46 - Imf

Global debt reaches record $226 trn in 2020 amid Covid pandemic: IMF

Global debt rose to a record $226 trillion in 2020 as the world was hit by the raging Covid-19 pandemic and a deep recession, the International Monetary Fund said

Top headlines: US Fed signals rate hikes, IMF speaks on crypto ban idea

Cryptocurrencies were proving to be a challenge for emerging markets and strong regulation was needed, IMF's Gita Gopinath said. More in today's top headlines

IMF chief economist Gita Gopinath calls on Prime Minister Narendra Modi

The meeting comes days after the IMF announced that she is being promoted as its First Deputy Managing Director

Uncertainty remains about new variants as global economy recovers: Gopinath

Gopinath further said the pandemic has been aggravated by the recent advent of the Omicron variant of coronavirus

IMF chief economist sees inflationary pressures, risks from Omicron

Gita Gopinath says a more transmissible SARS-CoV-2 variant such as Omicron could cost the global economy a further $5.3 trn, in addition to the current projected loss of $12.5 trn

IMF chief calls on global cooperation on pandemic, economic recovery

Kristalina Georgieva, managing director of IMF, called on global cooperation to control the Covid-19 pandemic and support the economic recovery

International Monetary Fund chief warns of 'digital Berlin Wall'

Georgieva also warned that the intensification of anti-competitive trends during the Covid-19 pandemic could reduce the level of GDP in advanced economies by 1 per cent in the medium term

Omicron likely to reinforce IMF downgrade of global growth forecasts: MD

Omicron variant is likely to reinforce a downgrade of IMF's outlook on the global economy, Managing Director Kristalina Georgieva said

IMF says chief economist Gopinath to replace Okamoto as no. 2 official

The IMF named its chief economist Gita Gopinath to become its second-ranking official, replacing First Deputy Managing Director Geoffrey Okamoto

Gita Gopinath to become IMF's first deputy managing director next year

IMF's First Deputy Managing Director Geoffrey Okamoto will resign next year, and Chief Economist Gita Gopinath will replace him, the fund announced on Thursday."The IMF said today that First Deputy Managing Director (FDMD) Geoffrey Okamoto will leave the Fund early next year and that Gita Gopinath, currently the IMF's Chief Economist, is proposed to be the Fund's new First Deputy Managing Director," the press release said.Although Gopinath had been scheduled to return to her academic position at Harvard University in January next year, she decided to stay and accepted the new position, according to the release."In particular, the FDMD will take the lead on surveillance and related policies, oversee research and flagship publications and help foster the highest quality standards for Fund publications," the release noted.Gopinath will start in her new role on January 21, 2022.

International Monetary Fund rejects Pakistan's borrowing request

The bank may purchase such securities in the secondary market, according to the draft

Pak agrees to swallow bitter IMF pill to revive financial bailout

Islamabad has agreed to take steps worth PKR 800 bn by cutting expenditures and enforcing more taxes to ensure revival of the $6 billion bailout package it took from the International Monetary Fund

IMF revives $6-billion bailout for Pakistan's teetering economy

The agreement involves the implementation of prior actions before final approval is given by the IMF

IMF says it plans to revive a $6 billion funding programme for Pakistan

The United Nations International Monetary Fund said it has come to an agreement with Pakistan on terms to help revive a $6 billion funding programme for the country

IMF welcomes India's announcement to adopt net zero by 2070 at COP26

The International Monetary Fund (IMF) on Thursday welcomed India's announcement with regard to addressing the climate change challenges at the recently concluded COP26 summit in Glasgow.

IMF revising India's growth forecast is 'gross under estimation': N K Singh

N K Singh, Chairman of the 15th Finance Commission, on Tuesday said the IMF's decision to revise India's potential growth forecast downwards to 6 per cent

IMF chief economist Gopinath to leave Fund, return to Harvard in January

Gopinath, the IMF's first female chief economist, joined the Fund in October 2018

Possible Afghan refugee crisis could cost Pak $500 mn annually, says IMF

IMF has said that a possible refugee crisis in Afghanistan is likely to increase the burden of Pakistan and other countries and Islamabad will have to bear a burden of 500 million dollars annually

Pakistan's rupee drops to record low on reports IMF tranche talks failed

Last month, Fitch Ratings revised down its forecasts for the Pakistani rupee for both this year and next due to a variety of factors

Sale of Air India will constitute an 'important milestone': IMF official

The International Monetary Fund on Monday said the sale of national carrier Air India will constitute an "important milestone" in India's privatisation efforts. Tata group has emerged as the winning bidder for the loss-making Air India, and on October 11, a letter of intent (LoI) was issued to the group. "We welcome the recent agreement on the sale of Air India, which constitutes an important milestone," Alfred Schipke, Director of IMF-STI Regional Training Institute and a former IMF India Mission Chief, told PTI in an interview. Earlier this month, the government accepted an offer by Talace Pvt Ltd, a unit of Tata group, to pay Rs 2,700 crore cash and takeover Rs 15,300 crore of Air India's debt. After Tatas accept the LoI, the share purchase agreement (SPA) for the sale will be signed. Along with Air India, Tatas will acquire low-cost carrier Air India Express and Air India's 50 per cent stake in equal joint venture AISATS. "In general, to maximise the benefits from privatisatio