Pakistan has appointed Saleem Raza, a former international banker, as central bank governor.
The country's foreign exchange reserves swelled by USD 3.005 billion to a lifetime high of USD 490.044 billion in the week ending May 22, mainly on account of a rise in foreign currency assets, RBI data showed on Friday. In the previous week, the reserves had increased by USD 1.726 billion to USD 487.04 billion.
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.
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.
The suit also said that The Post ran the stories 'in a desperate attempt to bolster' its sales.
Former International Monetary Fund chief Dominique Strauss-Kahn facing sexual assault charges in New York will sue a French writer, who has accused him of attempted rape, for 'slanderous denunciation'.
Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund.
Mexican bank head seeks support for IMF post.
Besides French Finance Minister Lagarde, seen as a strong candidate, there are four to five other aspirants in the race for the post vacated by Dominique Strauss-Kahn.
Greece was an opportunity for the IMF to set a precedent for an orderly debt resolution programme.
Ground reality suggests that someone from the developing world does not stand a chance to emerge victorious.
Gold struck another historic peak of Rs 18,000 per ten gram in the national capital today on sustained buying by stockists for the current marriage season amid a weakening dollar and reports that more central banks might purchase gold from the International Monetary Fund.
One of the names proposed by the dailies is India's Planning Commission Deputy Chairman, Montek Singh Ahluwalia.
The IMF targets to sell about 403.3 metric tonnes of gold to shore up its finances so that it can lend money to the poorest countries at concessional rates.
In a statement issued after its Article IV Consultation with India, the IMF said that Reserve Bank of India should be ready to increase rates to check any further rise in inflation.
Dominique Strauss-Kahn, the head of the International Monetary Fund, who has been charged with a criminal sex act and is under arrest in the United States, has resigned from his position, leaving the global financial body to hunt for a new chief.
International Monetary Fund chief Dominique Strauss-Kahn, who is facing damaging allegations of sexually assaulting a hotel maid, has been put on suicide watch by prison authorities who fear he may try to kill himself.
Strauss-Kahn allegedly sexually assaulted the 32-year-old maid, who happened to be in his $3,000 a night suite at the Hotel Sofitel in Times Square on Saturday afternoon, thinking it was empty.
The country's foreign exchange reserves declined by $7.541 billion to $572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by $8.06 billion to $580.25 billion, the Reserve Bank of India (RBI) data showed on Friday. On Friday, the rupee fell by 5 paise to close at 79.90 against the US dollar.
While emerging economies present the best chances for economic growth, not all countries will prosper at the same rate.
The International Monetary Fund on Thursday retained its projection for Indian economic growth at 5.4 per cent in 2009, implying a slower growth in the second half of this calendar year.
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.
"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.
Kaushik Basu, the C Marks Professor of International Studies, professor of economics, and director of the Center for Analytic Economics at Cornell, has been asked informally if he would consider becoming Chief Economic Advisor (CEA), a post that will fall vacant after Arvind Virmani ends his tenure and leaves to join the International Monetary Fund at the end of the month.
The announcement has been enabled by the IMF's recent announcement of a framework for issuance of notes to the official sector. These notes will allow investments in the IMF to be treated as international reserves. Therefore, RBI will be able to invest a portion of its foreign reserves in the IMF.
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.
Indian economy is expected to grow at decade low of 4.9 per cent in 2013-14.
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.
Head of the United Nations International Labour Organisation has told the International Monetary Fund and the World Bank to join hands to combat global economic crisis. He said a multilateral consensus, on a wide range of issues ranging from widening income gaps to climate change bringing together rich and poor countries, employers and employees, is needed. IMF forecasts have projected that global growth could drop below the point that is equivalent to a global recession.
Employment in India saw a V-shaped recovery after being adversely impacted between April and June 2020 during the Covid lockdown and during April-June 2021, when the second wave struck, said Krishnamurthy V Subramanian, former chief economic advisor, in a paper released on Friday. Subramanian is now serving as executive director of the International Monetary Fund (IMF). From the official survey data of the National Sample Survey Organisation (NSSO), the paper titled 'Employment in India: Data Sources, Facts, and Trends' showed that both worker-population ratio (WPR) and labour force participation rate (LFPR) were higher, while the unemployment rate was lower during October-December 2022 when compared to the corresponding quarter in 2019.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
The International Monetary Fund on Thursday asked India to "very carefully" look at the much-touted Special Economic Zones, saying the giveaways and tax sops to the zones could divert industrial activity from the rest of the country.
India's foreign exchange reserves nearly hit a nine-month low and fell by $5 billion to $302 billion for the week ended December 16, on account of revaluation in foreign currency assets.
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.
Differing with International Monetary Fund's growth forecast of 4.9 per cent for India during 2012, Planning Commission Deputy Chairman Montek Singh Ahluwalia said it has a statistical problem.
Gold reserves were down by $1.441 billion in the reporting week to $35.999 billion.
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