The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect.
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
"Global rebalancing will require deficit economies to save more and consume less, while depending more on external demand relative to domestic demand for sustaining growth. Surplus economies will need to mirror these efforts - save less and spend more, and shift from external to domestic demand," Subbarao said during his intervention in the ongoing Spring meeting of the IMF in Washington.
The IMF said in its latest report that the global economy is likely to grow at a slower rate than previously forecast over the next two years.
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
The multilateral body has also asked the policymakers to take action to reduce risks arising from increased scarcity of oil resources.
The managing director of the International Monetary Fund, on a two-day visit in New Delhi, was speaking at a conference on growth aspects of Indian and Chinese economies.
The United States reigns supreme as the world's economic superpower.
Justice Douglas McKeon of the New York State Supreme Court in the Bronx here announced at a hearing on Monday that terms of the settlement reached between Strauss-Kahn and Nafissatou Diallo will remain confidential.
I think it is a clear objective in India to bring the fiscal deficit down as part of its fiscal consolidation, says Anoop Singh.
Method will be part of this year's Economic Survey; will help investors in relative comparison.
In-car connectivity demands and technology for interaction open various possibilities.
Cautioning that economic recovery remains tentative, the International Monetary Fund has said global growth is still prone to new "shocks".
Maharashtra has the highest debt among all states in India.
Some emerging nations like India and China, however, are also facing the challenges of huge capital inflows and overheating.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
Gordan Brown has advised IMF to set up an early warning system to alert economies of impending financial disasters.
International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today commended India's role in managing capital inflows, which have already crossed $50 billion this year--about 4 per cent of the country's Gross Domestic Product (GDP).
The warning being issued by many respected economists to governments across the world has been as follows: do not declare victory too soon since the path ahead is a very long one.
The report titled 'what really happened to Strauss-Kahn?' published in the New York Review of Books states that Strauss-Kahn's Blackberry, which the IMF chief referred to as his 'IMF BlackBerry' had been 'hacked' and later went missing.
Revising its economic outlook, International Monetary Fund (IMF) today marginally brought down India's growth rate projections to 5.6 per cent for this fiscal and 6.3 per cent for the next financial year.
During the week gold reserves stood unchanged at $18.15 billion.
This year's deliberations, on October 9-14, come in the backdrop of the persisting crisis in Europe and the US and its apparent effects on India, China and other countries supposedly driving growth.
In a statement, the world body said policy measures to stimulate Indian economy and a good harvest should support domestic demand. After last year's record of 9.2 per cent of GDP, the IMF said the capital inflows are expected to decline this fiscal year. Till December 2008 portfolio investment recorded a $11 billion outflow.
The Cabinet's approval to increase India's quota in the International Monetary Fund follows Fourteenth General Review of Quotas of the agency.
Kaushik Basu, till recently the chief economic adviser of the government of India, who created a political firestorm in April when he said here on the sidelines of the World Bank/International Monetary Fund meetings that no economic reforms were likely in India before 2014 when parliamentary elections are due, has been appointed the World Bank's Chief Economist and Senior Vice President.
Rajan, who will be a key member of Finance Minister P Chidambaram's team, was also honorary economic adviser to Prime Minister Manmohan Singh.
'The inflow of FII or FDI has not distorted the market sentiments and therefore there is no question of putting any curbs.'
The global financial system needs more regulatory reforms to reduce the possibility of another meltdown, according to experts at International Monetary Fund.
The review will now make it mandatory for the world's top 25 financial economies to undergo IMF's surveillance. The check-up was earlier voluntary in nature.
The allocations for military have been made while outlays on the development and non-development budgets have been slashed by 50 per cent and 20 per cent respectively to create fiscal space for rehabilitating the flood-affected population.
The country's foreign exchange reserves surged by $5.271 billion to touch a record high of $598.165 billion in the week ended May 28, RBI data showed on Friday. In the previous week ended May 21, 2021, the reserves had increased by $2.865 billion to $592.894 billion. While announcing the second bi-monthly monetary policy review earlier on Friday, RBI Governor Shaktikanta Das said the country's forex reserves may have crossed $600 billion currently.
The four-day tour, beginning September 21, includes World Bank-International Monetary Fund meetings, as well as interactions with investors.
The RBI issued a fairly gloomy forecast in its monetary policy statement last Friday.
The paper says the rate of price rise in food items leads to lower income inequality in rural India.
Pakistan has appointed Saleem Raza, a former international banker, as central bank governor.
A judge had earlier dismissed all charges against Strauss-Kahn, who was accused of forcing the maid into a sex act at a luxury Manhattan hotel, but her lawyers had filed an appeal to a higher court seeking a special prosecutor, the report added.
Favouring a 'new Bretton Woods Agreement', International Monetary Fund chief Dominque Strauss-Kahn has said an early warning system to detect impending dangers to the world economy must be put together by international financial expertise.
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.
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