Gordan Brown has advised IMF to set up an early warning system to alert economies of impending financial disasters.
With the US "quietly" supporting him, former Spanish Finance Minister Rodrigo Rato is likely to become the next managing director of the International Monetary Fund, according to media reports.
China on Tuesday inked an agreement worth a whopping USD 4.8 billion with cash-strapped Pakistan to set up a 1,200-megawatt nuclear power plant as a sign of increasing strategic cooperation between the two all-weather allies.
The government on Tuesday said the IMF had expressed concern about sustainability of India's fiscal situation and debt position.
Nothing is more promising than countries putting aside hubris and ideological differences to invest in our shared future, observes Durga Sreenivasan, a delegate at COP28.
India's forex reserves dropped $2.901 billion to $593.19 billion in the week ended June 23, the Reserve Bank said on Friday. The overall reserves increased by $2.35 billion to $596 in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
There is evidence of asymmetric adjustment to monetary policy
A fresh study by the IMF's India office, however, suggests the battle against inflation may already have been won as far back as last month. Official inflation is measured by the change in the price index (Wholesale or Consumer) over that a month ago (year-on-year). What the IMF has done is to measure the monthly change in this index, and then removed the impact of the change that takes place due to seasonal factors such as the crop coming in.
Concerned over terror funding, the World Bank and the IMF have launched an intense programme using a comprehensive methodology involving 75 client countries to identify the means of formal and information remittances used for money laundering.
Pakistan-India bilateral relations remained frozen for the fourth year over the vexed Kashmir issue but analysts hope the strained ties could be repaired if Nawaz Sharif becomes the prime minister for a record fourth time in the general elections in February in the absence of his main challenger Imran Khan who is in jail in multiple cases.
IMF Chief Economist Raghuram Rajan has said that while the Indian government has as strong reason to feel good about the economy, a lot still remains to be done.
International Monetary Fund on Friday warned the Centre of high fiscal deficit that could come in the way of sustaining high growth in the economy, which clocked 8.4 per cent rise in the second quarter of 2003-04.
"It is completely false. I don't know what is the basis of this. I am not a candidate. This is some speculative thing in the New York Times," Ahluwalia said.
At the IMF, India is expected to link announcement of additional resources to the IMF to the implementation of 2012 quota reform.
Advanced economies are projected to grow by just 2.7 per cent in 2010 and 2.2 per cent in 2011, the IMF report said.
The International Monetary Fund and World Bank heads want their shareholders' consensus before working to rebuild Iraq, but some countries worry the United States is trying to use the multilateral lenders to cut out the United Nations.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
IMF report says billions more cash and debt relief needed
The surge in investment in manufacturing seems to have prompted the International Monetary Fund to increase the gross domestic product growth forecast to 8.4 per cent for 2007.
With a narrow industrial base and dysfunctional politics, and a counter-productive national security agenda, Pakistan could well remain an 'international migraine', observes T N Ninan.
Many factors have been identified as key drivers of the inequality between rural and urban areas in China and India.
India's forex reserves have swelled by $12.74 billion to $609.02 billion in the week ended July 14, making it one of the strongest weekly surges in the kitty in recent times, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had risen by $1.23 billion to $596.28 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 increased by $2.35 billion to $596.098 billion for the week ended June 16, the Reserve Bank said on Friday. The overall reserves had dropped by $1.32 billion to $593.75 billion in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Pointing out that action should be immediate, IMF said there should be a collective effort and that each country that has fiscal space should contribute. According to the agency, as the current crisis would last at least for several more quarters, the fiscal stimulus can rely, more than is usual, on spending measures.
India will encourage greater investments in Sri Lanka's economy, especially in areas of energy, tourism and infrastructure, External Affairs Minister S Jaishankar said on Friday, as he expressed India's solidarity with the debt-ridden Island nation during its "difficult moments".
"Tests matched a DNA sample submitted by Strauss-Kahn and semen found on the shirt of the hotel maid," the Wall Street Journal reported quoting law-enforcement officials.
India on Monday failed in its bid to prevent China and three other countries from getting more powers in the International Monetary Fund.
The ongoing Greece economic crisis poses a little threat to the rest of the world as the global economy has withstood the stress tests of the last two weeks fairly well.
India's forex reserves dropped by $1.32 billion to $593.75 billion for the week ended June 9, the Reserve Bank of India said on Friday. The overall reserves had jumped by $5.93 billion to $595.07 billion for the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The world has spent a staggering $11.9 trillion to wriggle out of the financial crisis, a sum which is enough to finance a Pound 1,779 handout for every person living on the planet, The Telegraph said quoting the International Monetary Fund.
India's forex reserves rose by $1.66 billion to $586.41 billion as of April 14, marking their second consecutive week of increase, according to the RBI data released on Friday. In the previous reporting week, the overall reserves rose by $6.31 billion to $584.76 billion. For the week ended April 14, the foreign currency assets, a major component of the reserves, increased by $2.20 billion to $516.64 billion, according to the Weekly Statistical Supplement released by the RBI.
India's forex kitty jumped $5.929 billion to $595.07 billion for the week ended June 2, the Reserve Bank said on Friday. The reserves had dropped for two consecutive weeks and declined by $4.34 billion to $589.14 billion in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
A day ahead of Mexican Central Bank Governor Agustin Carstens' visit here to seek support for his candidature for the top IMF post, the Finance Ministry on Thursday said the decision on India's vote will be taken by Prime Minister Manmohan Singh.
International Monetary Fund managing director Dominique Strauss-Kahn on Thursday said he favoured new heads of the World Bank and the Fund to be from countries other than Europe and the United States.
The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on September 9 and 10. India is hosting the summit in its capacity as the current G20 chair.
