IMF's Kristalina Georgieva praised EU govts for putting more than 3 trillion euros in fiscal support for firms and households, including job-retention schemes that helped more than 54 million workers
Revenue of Centre and states is just 19 per cent of GDP, according to the International Monetary Fund.
Setbacks for living standards in developing countries would make it much more difficult to achieve stability and security for the rest of the world, she said
The problems of moving cargo to the destinations continue. Containers are not easily available in time as there aren't enough vessels sailing to and from India
"Global cooperation on producing and widely distributing treatments and vaccines to all countries at low cost is crucial," Gaspar said
The report also noted that in low-income countries, the fiscal policy response has been more "limited," owing to financing constraints and less developed welfare programs
India's government debt is expected to remain elevated at 83 per cent of GDP
Speaking at the World Economic Forum's online Davos Agenda Summit, she said the IMF is projecting 5.5 per cent global economic growth for 2021, which is higher than before
Despite an outcry by its citizens over massive blackout recently, Imran Khan government on Friday has once again planned to raise the power tariffs amid increasing IMF debt
"We believe the farm bills do have the potential to represent a significant step forward for agricultural reforms in India," IMF said
In October, the Fund forecast a 4.4% global GDP contraction for 2020, followed by a rebound to growth of 5.2% for 2021.
China is recovering fast ahead of most large economies, but the recovery is still unbalanced and facing significant downside risks, the IMF has said
India's economy, which was severely affected by the coronavirus pandemic, is gradually recovering, the International Monetary Fund said on Thursday
All that happened in the markets today
The IMF noted progress on a vaccine, but also said elevated asset prices point to a disconnect from the real economy and a potential threat to financial stability
Pakistan approached the IMF in August 2018 for a bailout package after Prime Minister Imran Khan's government took over
The election of Joe Biden as US president gives the IMF a chance to reset its relationship with its largest shareholder and make green initiatives a bigger part of its global economic recovery plan
The IMF last month forecast a 2020 global contraction of 4.4% and a return to growth of 5.2% in 2021, but warned that the situation remained dire and governments should not withdraw stimulus premature
GDP to be flat in FY21, FDI inflow up 13 per cent between April to August 2020, compared to 2019
Pakistan is unlikely to exit the Financial Action Task Forces (FATF) grey list as it has been unable to comply with six of the 27 points in the global watchdogs action plan, according to reports