The question is whether this would mean any change in IMF's policies, particularly on the question of what to forgo out of the impossible trinity of an independent monetary policy, managed exchange rates and a liberal capital account.
India's forex reserves jumped $2.816 billion to $606.86 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had risen $6.11 billion to $604.04 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
India's forex reserves jumped $9.11 billion to $615.97 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. In the previous reporting week, the overall reserves had risen $2.82 billion to $606.86 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
In July, the Pakistan government's debt swelled to USD 2.44 billion, including USD 2.07 billion in non-guaranteed debt owed to China, as per Geo News.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
A continued focus on low inflation will be important to keeping gold imports, IMF said.
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
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.
India's foreign exchange reserves increased $2.54 billion to $597.93 billion for the week ended November 24, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had jumped $5.08 billion to $595.4 billion. For the week ended November 24, the foreign currency assets, a major component of the reserves, increased $2.14 billion to $528.53 billion, as per the data from the Reserve Bank of India (RBI).
Greece was an opportunity for the IMF to set a precedent for an orderly debt resolution programme.
India's forex reserves increased by $5.08 billion to $595.4 billion during the week ended November 17, the Reserve Bank said on Friday. In the previous reporting week, the kitty declined $462 million to $590.32 billion. For the week ended November 17, the foreign currency assets, a major component of the reserves, increased $4.39 billion to $526.39 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI).
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
the GDP estimates incorporate new source data and modified compilation techniques
The IMF proposals will be reviewed by the finance ministers of G-20, whose representatives are in Washington for meetings this week, The Post reported.
The country secured a euro 7.16 billion bridge financing from the European Financial Stability Mechanism
The global lending agency also said that Brexit has resulted in global economic uncertainty.
However, India is likely to regain the tag of the fastest growth emerging economies of the world in 2018.
India's forex kitty decreased by $462 million to $590.32 billion for the week ended November 10, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by $4.67 billion to $590.78 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billio
Horst Koehler, managing director of International Monetary Fund, has announced his resignation after being nominated to become the German President.
Lagarde had said an Indian could head IMF.
The 2024 general elections are due in April-May and Fitch expects the Modi government to come back to power for the third time.
Admitting that the economy may be impacted if the monsoon is inadequate, the government on Monday said the growth rate in 2009 will not fall to the levels being projected by international agencies like the IMF and the World Bank.
The current Euro-Atlantic Monetary Fund must become an International Monetary Fund.
IMF attributes the slower growth rate to supply-side bottlenecks.
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
Their research paper on aid by rich nations got leaked
Cash-strapped Pakistan on Tuesday moved closer to securing a massive $11 billion economic bailout package from international donor agencies including the IMF, to revive the ailing national economy.
RBI governor is seen succeeding International Monetary Fund (IMF) chief executive officer, Christine Lagarde, next year.
IMF projected India's economic growth at 4.25% in 2013-14.
Meanwhile, the US refrained from making any comment on the move to set up the development bank aimed at reshaping the international financial system dominated by the West, saying that the details are yet to emerge.
India's forex reserves declined by $2.36 billion to $583.53 billion during the week ended October 20, according to the Reserve Bank of India data. In the previous reporting week, the overall reserves had increased by $1.15 billion to $585.89 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
"The challenge for many emerging and some developing economies (is) to ensure that present boom-like conditions do not develop into overheating over the coming year," the IMF said in its World economic Outlook report.
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