Redirect fiscal policy towards resilient sustainable, inclusive growth: IMF urges govts

In a blog post, top IMF officials -- Vitor Gaspar, Director of Fiscal Affairs Department and Indian-American Gita Gopinath, Economic Counsellor and Director of the Research Department -- wrote that the coronavirus pandemic has already prompted an unprecedented fiscal policy response of close to USD 11 trillion worldwide.

Jul 10, 2020, 23:02 PM IST

Liquidity boost may have costly side effects: Nirmala Sitharaman at IMF meet on coronavirus COVID-19 crisis

Union Finance minister Nirmala Sitharaman on Thursday (April 16) said that India could not support a general allocation of the new Special Drawing Rights (SDR) proposal by the International Monetary Fund (IMF) because it might not be effective in easing out the economical pressure created due to the COVID-19 pandemic. 

Apr 17, 2020, 08:16 AM IST

COVID-19: IMF approves nearly $1.4 billion to Pakistan to meet balance of payment crisis

The International Monetary Fund Thursday approved disbursement of USD1.386 billion as a financial assistance to Pakistan to meet its urgent balance of payment needs stemming from the COVID-19 outbreak.

Apr 17, 2020, 07:05 AM IST

IMF backs India's 'very wise' COVID-19 lockdown move despite huge economic cost

The IMF drastically revised India`s growth rate projection for the current fiscal year to 1.9 per cent from the 5.8 per cent made in January, which was lower than the 7 per cent made in October.

Apr 16, 2020, 09:34 AM IST

Ex-RBI Governor Raghuram Rajan to be part of IMFs external advisory panel on COVID-19

International Monetary Fund Managing Director Kristalina Georgieva on Friday announced the creation of an external advisory group to provide input on policy challenges, including the coronavirus pandemic and its massive economic impact.

Apr 11, 2020, 09:41 AM IST

IMF chief warns of worst recession since 1930, seeks more fiscal stimulus to prevent economic 'scarring' from COVID-19 crisis

In a blog message posted on the IMF website, Georgieva said, “The year 2020 could see worst global economic fallout since the Great Depression in the 1930s.’’

Apr 09, 2020, 18:01 PM IST

IMF warns coronavirus COVID-19 will hurt global economy ‘way worse’ than 2008 financial crisis

According to the WHO, more than 1 million confirmed cases of COVID-19 have been reported, including more than 50,000 deaths.

Apr 04, 2020, 06:22 AM IST

IMF warns coronavirus recession could be worse than 2009

The outlook for global growth, for 2020 it is negative -- a recession at least as bad as during the global financial crisis or worse, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said after a call with G20 Finance Ministers and Central Bank Governors.

Mar 25, 2020, 22:51 PM IST

IMF, World Bank call for debt payments suspension of poorest nations hit by coronavirus COVID-19 pandemic

The World bank in a statement said, "The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets."

Mar 25, 2020, 22:39 PM IST

Indian economy experienced abrupt slowdown in 2019, but it's not in a recession: IMF

Kristalina Georgieva said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

Feb 01, 2020, 08:00 AM IST

Growth slowdown in India temporary, expect momentum to improve going ahead: IMF chief Kristalina Georgieva

Speaking here at the WEF 2020, she also said the world appears a better place in January 2020 compared to what it was when IMF announced its World Economic Outlook in October 2019.

Jan 24, 2020, 17:02 PM IST

Expect government attack on Gita Gopinath: Chidambaram on IMF forecast for Indian economy

Chidambaram said on Tuesday (January 21) that IMF Chief Economist Gita Gopinath was one of the first to denounce demonetisation and we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath as the IMF has announced reduced growth forecasts for India.

Jan 21, 2020, 10:26 AM IST

IMF cuts global growth forecasts as India falters, says bottom may be near

The reductions reflect the IMF`s reassessment of economic prospects for a number of major emerging markets, notably India, where domestic demand has slowed more sharply than expected amid a contraction of credit and stress in the non-bank sector. 

Jan 20, 2020, 19:59 PM IST

Rise in interest rates dependent on growth of India, China: Finance Minister Nirmala Sitharaman

Talking about the IMF and WB meetings, Union Finance Minister Nirmala Sitharaman said the discussions were mostly focused on the economic slowdown.

Oct 20, 2019, 09:38 AM IST

Nirmala Sitharaman calls for 'concerted action' against economic slowdown at IMF

Union Finance Minister Nirmala Sitharaman on Friday gave a clarion call for ‘concerted action’ to mitigate the disruption on account of synchronous slowdown and to invoke the spirit of multilateralism for global growth during an annual meeting plenary session of the International Monetary Fund (IMF) and the World Bank Group held in US.

Oct 19, 2019, 14:44 PM IST

US-China trade war will drag down global growth, warns IMF

Both China and the US have had their growth forecasts lowered.

Oct 16, 2019, 08:13 AM IST

Taal Thok Ke: Pakistan faces heat from FATF group over failing to act on terror funding

In a big blow to Pakistan, Islamabad has been given a warning by Financial Action Task Force's (FATF) subgroup Asia Pacific Group APG on failing to meet its commitments on the issue of dealing with the financing of terror.#PakistanKaBlackFriday #PMModiFranceVisit #FATF

Aug 23, 2019, 20:04 PM IST

Former RBI Deputy Governor Subir Vithal Gokarn dead

A noted economist, Gokarn joined the IMF Executive Board as ED (India) in December 2015 and was to complete his term in October this year.

Jul 31, 2019, 17:00 PM IST

IMF cuts India's GDP growth forecast to 7% for FY20

The growth is expected to rise to 7.2 percent points in FY21, down by the projected growth rate of 7.5 in the earlier report."India`s economy is set to grow at 7.0 percent in 2019, picking up to 7.2 percent in 2020.

Jul 24, 2019, 11:05 AM IST

IMF predicts Indian economy to grow at 7.2 per cent in 2020

The International Monetary Fund (IMF) has taken note of robust strides taken by the Indian economy in recent years and predicts it to grow at 7.2 per cent in 2020.

Jul 23, 2019, 18:55 PM IST