With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
'Whatever else may or may not happen, China and its people are likely to pay a very heavy price for the lack of transparency of its Communist regime,' predicts Colonel Anil A Athale (retd).
Speaking at the State Banquet hosted in the honour of President Pranab Mukherjee, Namibian President Hage Geingob said Namibia commends India's commitment towards peaceful use of nuclear energy.
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
A two-year extension at the helm of the RBI still looks a real possibility
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
'There are lots of low hanging fruits and often no real impediment to plucking them.'
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The members of Association of Southeast Asian Nations are Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Brunei Darussalam, Singapore, Cambodia, Lao PDR and Myanmar.
Germany is now sitting on a mountain of savings.
The Indian economy is expected to grow around 10 per cent during the current financial year on the likelihood of fewer COVID-19-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, director general of economic think-tank NCAER. The real challenge, however, would be to sustain a growth rate of 7-8 per cent in years to come, she said. "We could see annual growth in the ballpark range of about 10 per cent. "The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
The global economy, which gathered momentum in 2013, would continue to strengthen in 2014, largely because of improvements in the advanced economies, the International Monetary Fund Chief Christine Lagarde has said even as she expressed concern over the rising risk of deflation.
In April and May, there were additions by RBI of 600 kg and 900 kg. RBI's total gold holding is now 561.9 tonnes.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
"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.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.
The world's two largest economies, the United States and China, will again win most gold medals at the Olympics and Britain will push Russia into third place in the overall standings, Goldman Sachs predicted in a survey released on Monday.
'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
Narendra Modi's engagement at the upcoming BRICS Summit in Brazil will be keenly watched as the prime minister will interact with some of the world's most powerful leaders. The summit to be held in Fortaleza will also see the launch of the significant BRICS bank whose idea was mooted by India. Rediff.com's Sheela Bhatt gives a lowdown on Modi's first major international rendezvous.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances