Page 13 - International Monetary Fund

Indian economy in a relative 'bright spot', must leverage exports: IMF

India's headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before

Recession will hit a third of world this year, warns IMF chief Georgieva

A third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be "tougher" than last year as the US, EU and China will see their economies slow down. Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation." It comes at a time when the ongoing conflict in Ukraine shows no signs of abating after more than 10 months, with spiralling inflation, higher interest rates and the surge in coronavirus infections in China fuelled by the Omicron variant. "We expect one-third of the world economy to be in recession," Georgieva said on the news programme. The year 2023 will be tougher than last year because the economies of the US, the EU and China will slow down, she said. "Even in countries that are not in recession, it would feel like a recession for hundreds of millions of people," she explained. In October last year, the IMF trimmed its growt

Pakistan braces for economic meltdown exposure without IMF umbrella

At the moment, Pakistan's shrinking foreign exchange reserves and inflation remain as the two most challenging and key factors for the government

IMF asks Pakistan to meet demands within 3 weeks to revive loan programme

International Monetary Fund has shared list of prerequisite actions with Pakistani authorities for moves towards implementing them in the next three weeks if they are keen to revive the loan programme

Ukraine to require at least $39.5-billion external financing in 2023: IMF

Ukraine will require at least $39.5 billion in external financing in 2023 to keep its economy afloat, a media report said, citing a recent International Monetary Fund (IMF) projection

IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

But govt asserts public debt is sustainable

IMF approves $3-bn loan to Egypt amid high inflation, forex funds shortage

The International Monetary Fund (IMF) has said that its executive board had approved a loan to Egypt of about $3 billion over 46 months

G20 under India can make progress in debt relief, crypto: Gita Gopinath

Throwing light on the recent crypto meltdown, she said it was clear that internationally agreed standards of regulations had become necessary

G20 mulls converting its global infra hub into a multilateral body

Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery

There's broad support for India's agenda at G20 meeting, says DEA secy

The FCBD meeting is setting the agenda for the meeting of G20 finance ministers and central bank governors, scheduled to be held in Bengaluru in February

IMF agrees to give Ghana $3 bn debt bailout to restore financial stability

The International Monetary Fund has agreed to give Ghana $3 billion to try to get the West African nation's debt under control, restore financial stability and help people most at risk from rising prices and other economic problems. The announcement this week say follows IMF officials' two-week visit this month to Ghana's capital Accra, where they discussed support for the country's policy and reform plans with authorities. Ghana has been struggling with high public debt, rising inflation and a weakening currency. At a press conference Tuesday, Finance Minister Ken Ofori-Atta said Ghana was committed to the programme and will work towards meeting the demands. He said the agreement will help restore economic stability, tackle price spikes and strengthen the currency. The Ghanaian authorities have committed to a wide-ranging economic reform programme, which builds on the government's Post-COVID-19 Program for Economic Growth (PC-PEG) and tackles the deep challenges facing the country,

World debt-GDP ratio plummets, but over pre-Covid level, says IMF

Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history

Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget

This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26

China hints at relaxing zero-Covid norm; IMF chief urges targeted policy

Police leveraging powers of the country's surveillance apparatus against protesters

India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran

'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'

Trade divide could cost global economy $1.4 trillion: IMF chief Georgieva

Trade spats could cut 1.5% from global GDP; 3% in Asia

Handling external shocks

Following the US Fed's monetary policy lead is not in the interest of emerging economies

From UPA govt's CEA to PM Modi's NITI Aayog member: Who is Arvind Virmani?

Prime Minister Narendra Modi has approved Virmani's appointment notified on November 15. Here's all you need to know

IMF says global economic outlook getting 'gloomier', risks abound

IMF blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions

Climate debt-trap risks pushing vulnerable emerging markets to brink

Rising global borrowing costs are denting the finances of some of the most climate-vulnerable countries right when they most need money to fight the devastating impacts of global warming