Page 8 - Imf

Making good progress with IMF to get board approval: Pak finance minister

Pakistan is in talks with Saudi Arabia, the United Arab Emirates and China to meet gross financing needs under the IMF programme

India could be $55 trillion economy by 2047 with 8% growth: IMF official

Krishnamurthy V Subramanian says India can achieve the feat if the country can keep the inflation below 5%

Workplace safety key to get more women in labour force: IMF's Gita Gopinath

IMF's Gopinath wants govt to conduct cost-benefit analysis of PLI scheme

India must focus on skilled workforce to become developed by 2047: Gopinath

India has grown well in terms of its overall growth rate, and at 7 per cent, it is the fastest growing major economy in the world, she said

Open to exploring more ways to increase collaboration with IMF: FM

India is open to exploring more ways to increase its collaboration with the International Monetary Fund (IMF), Finance Minister Nirmala Sitharaman said during a meeting with IMF's First Deputy Managing Director Gita Gopinath on Saturday. During the meeting, Gopinath congratulated the Finance Minister on policy continuity in the fiscal consolidation path being followed by the Government of India. "FM Smt. @nsitharaman stated that India deeply values its relationship and continuous engagement with IMF; and looking ahead, the Government of India is open to exploring more ways to increase India's collaboration with the IMF," the finance ministry said in a post on X. Besides acknowledging the vibrancy of the Indian economy, Gopinath appreciated the strength of India's relationship with IMF - valuable to both India, IMF, and to the world at large.

IMF's Gita Gopinath says India could become 3rd largest economy by 2027

India's growth was much better than IMF expectations the last fiscal year and those carryover effects are affecting our forecast for this year, said Gita Gopinath

India can become a $55 tn economy by 2047 with 8% growth: IMF exec director

IMF Executive Director Krishnamurthy V Subramanian noted the remarkable progress being made in financial inclusion through initiatives like the 'Pradhan Mantri Jan-Dhan Yojana'

Sri Lanka needs to raise fiscal revenue to maintain economic stability: IMF

IMF has also provided Colombo and financial advisors of the country's bondholders an assessment on a provisional deal

Pakistan makes $27-billion request from China, Saudi and UAE. Here's why

Pakistan's finance minister recently acknowledged difficulties faced by all segments of society because of high interest rates, energy prices, increased tax burden, and currency devaluation

IMF raises India's GDP growth forecast by 20 basis points to 7% for FY25

RBI has projected the Indian economy to grow at 7.2 per cent in FY25

Karnataka job quota row, IMF's economic forecast for India

Karnataka job quota row After the Karnataka cabinet approved a bill mandating private companies to reserve 70% of non-management jobs

Pakistan clinches $7 bn IMF bailout agreement, to raise tax on farm income

The benchmark share index has almost doubled since Pakistan signed its last SLA for the $3 billion standby arrangement, and is up more than 10% since Pakistan presented its annual budget

Home-grown cryptocurrency companies call for multi-agency regulation

Industry warns of complex, time-consuming legislation through a single regulator before 2025

Sri Lanka deal key milestone towards restoring debt sustainability: IMF

Sri Lanka still needs to convince bondholders to restructure about $12.5 billion in international bonds, on which the global lender said it hopes to see swift progress in the near future

Sri Lanka economic recovery hinges on sustaining ongoing reforms: IMF

The key to Sri Lanka's transition from stabilisation to full economic recovery is sustaining the ongoing reform momentum, the IMF said on Friday after it decided to release the third tranche of USD 336 million from the USD 2.9 billion four year bailout package to the island nation. While releasing the third tranche, the IMF on Thursday noted that Sri Lanka's economy has started recovering, inflation remained low, revenue collection was improving, and reserves continued to accumulate but warned that despite these positive developments, the economy is still vulnerable and the path to debt sustainability remains knife-edged. We encourage the (Sri Lankan) authorities to continue to build on these hard-won gains and remain steadfast with their reform commitments, Peter Breuer, the head of the Sri Lanka IMF mission, told reporters here on Friday. In April 2022, Sri Lanka declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial

Agreement with IMF for fresh loan expected next month: Pak Finance Minister

Pakistan's finance minister Mohammad Aurangzeb on Thursday said an agreement to secure a fresh loan to address the country's economic woes is expected to be reached with the International Monetary Fund next month. Aurangzeb, while addressing a post-budget press conference here, a day after unveiling the Rs 18,877 billion budget, announced that negotiations with the IMF were underway and going in the right direction. I don't want to say anything in finality other than the fact that it's (IMF talks) moving positively, he said and expressed hope that a staff-level agreement (SLA) is expected in July too. He, however, declined to talk further on the topic of SLA. The budget, which many believe is designed to meet IMF requirements for securing another USD 6 billion to USD 8 billion loans under the medium-term Extended Fund Facility (EFF), marks a 25 per cent increase over the outgoing fiscal year's outlay. The government has proposed historically-high additional taxes through various .

IMF extends $336 mn to Lanka amid 'knife-edged' path to debt sustainability

The International Monetary Fund in March this year approved a 48-month, $2.9 billion extended arrangement under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms

Pak may borrow $23 bn in next fiscal year to finance development plans

Pakistan has planned to borrow a minimum of USD 23 billion in the next fiscal year, including the rollover of a bilateral debt of USD 12 billion, to finance its development plans and meet its external financing requirement which will keep the cash-strapped country's foreign and economic policies dependent on global financial institutions like the IMF, according to a media report on Thursday. Budget documents for fiscal year 2024-25 showed that Pakistan would borrow at least USD 23.2 billion, or Rs 5.9 trillion, which did not include any loan from the International Monetary Fund (IMF), The Express Tribune newspaper reported, adding that the International Monetary Fund's loan will be for balance of payments support. Out of the USD 23 billion, the government has included USD 20 billion in budget documents. It has not made the rollover of USD 3 billion by the United Arab Emirates (UAE) part of federal books as it is also meant for balance of payments support. Details showed that Pakista

Pakistan budget sets big tax target of $46.66 bn ahead of IMF talks

Pakistan has projected a sharp drop in its fiscal deficit for the new financial year to 5.9% of GDP, from an upwardly revised estimate of 7.4% for the current year

Pakistan likely to hike taxes in budget to bolster chances of IMF loan

"Everyone will have to contribute in this economy because schools or universities or hospitals can run with philanthropy but countries can only run through taxes," Pak Finance Minister Aurangzeb said