As the race for the next International Monetary Fund chief hots up, Finance Minister Pranab Mukherjee on Tuesday said he was in touch with his counterparts from developed and emerging economies on the issue and was keeping a close watch on the developments.
As the International Monetary Fund prepares to replace its disgraced former chief, Dominique Strauss-Kahn, women employees have called for a female boss at the helm of the financial institution, a media report said.
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
The Planning Commission on Thursday described the International Monetary Fund's growth projection of 8.8 per cent for India as optimistic and said the panel would stick to its outlook.
Simultaneously, the White House said it has full faith in the capabilities of IMF to continue with the important role it is playing, despite the setback of its head being behind bars in a New York prison.
It might help alleviate the economic crisis by addressing the root cause of the unwillingness to spend, says Robert J Shiller.
The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year. The growth rate of 5.9 per cent in the 2023-24 fiscal compares to an estimated 6.8 per cent in the previous year.
Finance Minister Pranab Mukherjee on Wednesday called for flexibility in the framework that the International Monetary Fund (IMF) is in the process of creating, to help countries manage large capital flows that could put economies at risk as they come out of the global financial crisis.
The race for the top position at the Bank is really heating up.
Kalpana Kochhar, country head-India of the International Monetary Fund, says it is 'very difficult not to be bullish on India'
While there is little doubt that the emerging economies present the best chances for economic growth, not all countries will prosper at the same rate, says the Wealth Report 2012 by Knight Frank & Citi Private Bank.
For the current fiscal, the fund said the economy would grow by 6.7 per cent, much lower than the 7.2 per cent projected by the Central Statistical Organisation.
IMF's change of heart on capital controls is important, but it needs to be followed by further action.
Kerala Chief Minister V S Achuthananadan on Sunday hit back at Rahul Gandhi for his jibe at the Communist party of India-Marxist stalwart on his age, calling him an "Amul baby". Achuthananadan also countered Prime Minister Manmohan Singh for his criticism that the Left rule had done serious damage to Kerala and West Bengal, asking him not to speak with "hangover of a former International Monetary Fund officer".
Weaker demand for Indian exports and higher financing costs will lead to a deceleration in India's gross domestic product (GDP) growth rate to 7.9 per cent in 2008, the International Monetary Fund has said.The IMF's growth projections for India are in line with other estimates, including that of the Asian Development Bank, which pegged the 2008-09 growth at 8 per cent.
Indian along with Indonesia showed strong growth despite a global economic slowdown in the final quarter of 2011, according to the International Monetary Fund (IMF).
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.
India on Monday failed in its bid to prevent China and three other countries from getting more powers in the International Monetary Fund.
India last year announced tax cuts and increased expenditure to prop up the economy hit by the global economic slowdown.
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
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.
The overall breadth was extremely positive as 1,809 stocks advanced while 982 declined.
The International Monetary Fund has welcomed the decision of the United Arab Emirates to come to the rescue of its banks in Dubai and said it is monitoring the situation that took the world market by surprise.
The International Monetary Fund has said it broadly supports the series of economic reforms undertaken by India, which is moving in the right direction.
Finance Minister Jaswant Singh will not attend the spring meeting of International Monetary Fund and World Bank, starting in Washington on March 20.
In an effort to allow 19 poor countries to promote growth and make progress towards achieving the Millennium Development Goals, the International Monetary Fund will grant 100 per cent debt relief to them amounting to $3.3 billion
Gauba is said to be the key architect of the Jammu and Kashmir Reorganisation Act under which Jammu and Kashmir was divided into two Union territories following the abrogation of the special status given to the erstwhile state under Article 370 of the Constitution.
The International Monetary Fund expects India's economic growth rate to moderate to 7.5-7.75 per cent this fiscal, from 8.5 per cent in 2010-11, on account slowing investments and sluggish global recovery.
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
The 32-year-old maid Nafissatou Diallo, recalling the events of May 14 when Strauss-Kahn allegedly forced her to perform oral sex.
Asian economies are unlikely to undergo a sustained recovery until mid-2010 and can not rely on China to pull the region out of its current slump, a senior International Monetary Fund official said on Wednesday, casting doubts on a "green shoots" theory that has helped bolster Asian stock markets recently.
If Kamal Nath launches a broadside, it is because his ministry now can no longer afford to ignore the advice that comes from Yojana Bhavan.
The International Monetary Fund (IMF) and the World Bank (WB) has said the current global economic crisis is turning into a human calamity as it has hit millions of poor people across the world.
India's external debt rose by 16.46 per cent to $261.4 billion at the end of 2009-10 on the back of an improved liquidity in the global financial system along with an additional allocation of special drawing rights of the International Monetary Fund.
The International Monetary Fund has said that it expects India's economic growth to accelerate and inch closer to that of China.
This week's Group of 20 meeting already has a packed agenda: maintaining demand, repairing the global financial system and increasing the International Monetary Fund's resources.
Concerned over the growing transfer of resources from the poor to rich countries, India has said creation of an economic and financial environment conducive to development is the need of the hour.
