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 on Thursday said capital control measures could be valuable for countries like Brazil and India, facing excessive short-term capital inflows that threaten to damage their economies. "Capital control are a little bit in the eye of the beholder, but it is certainly a part of the toolkit," said IMF spokesperson Caroline Atkinson at a news briefing.
Asia has more than one candidate who fits the bill.
Lagarde had said an Indian could head IMF.
The unusual gift for a visiting foreign dignitary was presented to Mohammad during his first official visit to Islamabad.
Younger brother Marc-Olivier Strauss-Kahn, director at Banque de France, was dressed in slacks and a short-sleeved button-down shirt during the visit, The New York Post reported.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
According to the IMF sources, the 27-member European Union bloc had asked the Chinese for support for Lagarde.
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.
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 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.
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.
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.
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.
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".
Cautioning that economic recovery remains tentative, the International Monetary Fund has said global growth is still prone to new "shocks".
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.
Greece was an opportunity for the IMF to set a precedent for an orderly debt resolution programme.
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.
The 32-year-old maid Nafissatou Diallo, recalling the events of May 14 when Strauss-Kahn allegedly forced her to perform oral sex.
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 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.
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.
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 reserves had dropped by $1.434 billion to $348.934 billion.
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 improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
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