Lagarde had said an Indian could head IMF.
As the race for the next International Monetary Fund chief hots up, Finance Minister Pranab Mukherjee on Tuesday said he was in touch with his counterparts from developed and emerging economies on the issue and was keeping a close watch on the developments.
As the International Monetary Fund prepares to replace its disgraced former chief, Dominique Strauss-Kahn, women employees have called for a female boss at the helm of the financial institution, a media report said.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
Simultaneously, the White House said it has full faith in the capabilities of IMF to continue with the important role it is playing, despite the setback of its head being behind bars in a New York prison.
International Monetary Fund chief Dominique Strauss-Kahn, widely expected to run for the French Presidency next year, has been arrested in New York over an alleged sex attack on a hotel maid. Strauss-Kahn, 62, managing director of the Washington-based IMF since 2007, was taken off an Air France plane's first-class cabin at the John F Kennedy International Airport and apprehended by detectives. "He is being arrested for a criminal sex act, attempted rape," they said.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
The World Bank on Tuesday projected India's economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the COVID-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second COVID-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services.
Finance Minister Pranab Mukherjee on Wednesday called for flexibility in the framework that the International Monetary Fund (IMF) is in the process of creating, to help countries manage large capital flows that could put economies at risk as they come out of the global financial crisis.
Expressing concern over the current situation in Pakistan, IMF Managing Director Dominique Strauss-Kahn, told a group of media persons that he does not consider Pakistan as a "normal country or an easy country" under the present circumstances.
The International Monetary Fund expects India's economic growth rate to moderate to 7.5-7.75 per cent this fiscal, from 8.5 per cent in 2010-11, on account slowing investments and sluggish global recovery.
Just when you thought that the world was slowly slipping away from the crippling recession that had it in its vice-like grip since 2008, here comes the Irish economic crisis.
Cautioning that economic recovery remains tentative, the International Monetary Fund has said global growth is still prone to new "shocks".
Kerala Chief Minister V S Achuthananadan on Sunday hit back at Rahul Gandhi for his jibe at the Communist party of India-Marxist stalwart on his age, calling him an "Amul baby". Achuthananadan also countered Prime Minister Manmohan Singh for his criticism that the Left rule had done serious damage to Kerala and West Bengal, asking him not to speak with "hangover of a former International Monetary Fund officer".
Greece was an opportunity for the IMF to set a precedent for an orderly debt resolution programme.
The unusual gift for a visiting foreign dignitary was presented to Mohammad during his first official visit to Islamabad.
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
Finance Minister Pranab Mukherjee also asserted there's been no pressure by the United States for India to enact financial sector reforms, particularly in the banking and insurance sectors, on the eve of President Obama's visit.
In a move intended to reassure the jittery financial markets, the European Commissioner for Monetary Affairs, Olli Rehn, on Thursday stressed the fact that the European Union and the International Monetary Fund (IMF) were aware of the need to move swiftly to help an overly indebted Greece.
Ahead of the annual meeting of the IMF and World Bank here, a top US official indicated on Tuesday that greater representation of emerging economies in the bodies hinged upon their acceptance of greater accountability for the impact of their decisions on the global economy.
Prasad claimed that one part of his statement had been 'completely twisted out of context', and said 'being a sensitive person, I withdraw this comment'.
The International Monetary Fund (IMF) has said the tightening of monetary policy by India is an 'appropriate' step, as the country is faced with high inflation and needs to consolidate the fiscal measures initiated during the slowdown.
The 32-year-old maid Nafissatou Diallo, recalling the events of May 14 when Strauss-Kahn allegedly forced her to perform oral sex.
The reserves had touched an all-time high of $367.16 billion previously
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
The International Monetary Fund head Dominique Strauss-Kahn has said the Indian economy is recovering well and New Delhi would get higher quota in the IMF board, review of which is currently underway, reflecting its enhanced economic standing.
The International Monetary Fund head Dominique Strauss-Kahn has said that the global economic recovery is fragile and remains uncertain as not enough jobs are being created.
Inflation targeting has worked well and the government must stay with it, and the framework is going to work well in the period ahead also, former RBI Governor D Subbarao said on Thursday. He also said low inflation contributes to sustainable growth. Addressing the 'Times Network India Economic Conclave' virtually, Subbarao said the government's proposal to privatise some public sector units is not akin to selling family silver but it is a route for putting India on a sustainable growth path.
Foreign exchange reserves dipped marginally by $237.5 million to $355.221 billion in the week to June 26.
The two bodies have been fighting a running battle over the targets for construction of highways.
The multilateral lending agency, however, expressed concern over rising prices and underlined the need
The former IMF chief, who was indicted on seven counts on Thursday, allegedly forced the maid at the Sofitel hotel in Manhattan to perform oral sex.
On Wednesday, the alleged victim, a 32-year-old chambermaid, testified against Strauss-Kahn that 'there was nothing consensual' about the assault that allegedly took place on Saturday in a Manhattan hotel room, ABC News reported.
With many countries piling up massive debts in the wake of the global crisis, the International Monetary Fund has cautioned that 'fiscal sustainability' is going to be a big problem for the coming several years.
Various options, including expanding the scope of some of the existing tools, were being considered to provide a financial safety net.
The International Monetary Fund on Thursday raised India's growth forecast for 2010 to 9.5 per cent, stating that favourable financing conditions and robust corporate profits will accelerate economic expansion.
Projecting over seven per cent economic growth in Asia this year, the International Monetary Fund on Wednesday said countries in the region will be able to exit stimulus measures earlier than the advanced economies.
The reserves had dropped by $1.434 billion to $348.934 billion.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
British Prime Minister David Cameron on Tuesday said an Indian or Chinese could be the next chief of the International Monetary Fund, and played down the chances of his predecessor Gordon Brown taking over the key position.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances