Most south Asian nations will fall short on the Millennium Development Goals, a set of eight globally agreed development goals due to be achieved by 2015, a study by the World Bank and International Monetary Fund said.The report has warned that developing countries stand to suffer the most from climate change and the degradation of natural resources.
The International Monetary Fund has said India should make its financial system more efficient and hasten structural reforms to sustain high economic growth, which averaged about eight per cent in the last three years. \n
Anura Kumara Dissanayake, the leader of the Marxist Janatha Vimukthi Peramuna's (JVP) broader front National People's Power (NPP), on Sunday consolidated his lead in the Sri Lanka's presidential election.
As the duration of the FRBM Act, enacted in 2003, has come to an end, the government would be required to replace it with another law on fiscal consolidation.
The IMF has encouraged both the UK and the EU to work collaboratively towards a smooth transition.
India's foreign exchange reserves declined $1.73 billion to $254.21 billion during the week ended May 15, 2009, mainly due to revaluation of currencies.
The Congress-led coalition government will have to address the challenges of improving the country's infrastructure and modernise agriculture to ensure high growth of the economy
Gold reserves were down by $1.441 billion in the reporting week to $35.999 billion.
Warning that the worst may not be over yet, Reserve Bank Governor D Subbarao has said the global economic recession may not only continue through 2009 but could prolong to the next year as well.
If India takes part in $500-billion resource raising programme of International Monetary Fund, as decided at the G-20 summit in London last week, it will cost the country up to $11 billion (Rs 55,000 crore).
Prime Minister Manmohan Singh told the global community that India is willing to increase its contribution to the International Monetary Fund but does not intend to borrow any money from the multilateral lending agency.
Prime Minister Manmohan Singh on Thursday partly blamed International Monetary Fund for the current global economic crisis.
The recent bailout of Romania by the International Monetary Fund puts the spotlight back on the East European block of countries and what it means for the Western European banking sector. If evidence is anything to go by, things are turning for the worse. In fact, if a block of countries could be termed 'sub-prime', Eastern Europe seems to qualify as the countries seem to have been battered and bruised big time by the ongoing global financial turmoil.
"Overall we are beginning to see some hopeful signs. . . in a number of sectors we have seen some changes... cement, steel, capital goods... I don't think 5.1 per cent is what we are going to achieve," Cabinet Secretary K M Chandrasekhar said here at the CII Annual session in New Delhi.
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.
The International Monetary Fund has said the global economy in 2009 is likely to contract for the first time since the Second World War.
International Monetary Fund (IMF) expects India's inflation to hover around 2 per cent during 2009-10, mainly on account of declining commodity prices and weakening demand resulting from economic slowdown.
For the 2009-10 fiscal, Pranab said, he expects the economy to grow by 7.2 per cent.
India's foreign exchange reserve went up by $3.59 billion to $254.05 billion during the week ended December 19, 2008 mainly on account of revaluation in foreign currency. The foreign currency assets rose by $3.58 billion to $ 245.30 billion, according to the latest data released by the Reserve Bank of India on Friday.
The International Monetary Fund (IMF) chief Dominique Strauss-Kahn has said the level of debt in the UK is "disturbing" but more government borrowing is necessary to stimulate growth.
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.
For the week under review, foreign currency assets, which are the biggest parts of the reserves, increased by $1.642 billion to $410.453 billion.
Billionaire Gautam Adani to two Union Ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis among others on Sunday hailed India crossing $4 trillion mark though there was no official confirmation if the country has achieved the landmark. The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India's GDP crossing $4 trillion. Highly placed sources said that the viral news was incorrect and India was still shy of that landmark.
The appointment of Rajan, a former chief economist of the International Monetary Fund and now a professor of finance at University of Chicago, comes at a time when India, like most of the world economies, is grappling with the impact of the global credit crisis.
Gold reserves were down by $331 million to $37.264 billion.
Reveleus, a business of I-flex solutions, said on Monday the International Monetary Fund has selected its business intelligence and data warehouse technology offering for the design and implementation of a data warehouse.
Gold prices on Thursday crossed the crucial Rs 17,000 per 10 gram level in the bullion market here, buttressed by frantic buying by jewellers for the ongoing marriage season amid a firming global trend.
The best way to invest in gold is in a staggered manner, to take benefit of any sharp corrections that could come in it.
Gold gained Rs 50 and touched a new peak of Rs 16,850 per 10 gram.
The IMF, in pursuance of the decisions taken at the G-20 summit in London, had decided to sell about 403.3 tonnes of gold to shore up its finances so that it can lend money to the poor countries at concessional rates.
Many analysts were surprised at the speed with which India bought the IMF gold. However, they believe that it is a very smart move as by buying IMF gold, New Delhi is shoring up its bullion reserves and slowly trying to hedge its bets on the US dollar which has been losing value against other currencies.
'Will President Dissanayake calibrate his foreign policy taking into account India's immediate security concerns? We need to watch.'
