With the Cabinet clearing the proposed amendment in IMF's Articles of Agreement, India's quota is slated to go up from 1.91 per cent to 2.44 per cent in the world body. As such, India's voting rights are also scheduled to increase from 1.88 per cent to 2.34 per cent, enabling it to have a greater say in the functioning of the Fund.
Insider trading -- a punishable offence in the United States -- which increases stock market volatility, is relatively high in India, China, Russia, Venezuela and Mexico, according to a study done for the International Monetary Fund.
India's economic reforms are the subject of a three-day conference at the Stanford University in USA from June six, with several Indian experts being among the participants.
Foreign currency assets, which are a major component of the overall reserves, rose by $646.4 million to $386.762 billion.
India on Monday said that it will follow up its suggestion on having a price band for crude oil once the producing nations reflect on the idea, even as it asked them to step up oil output.
The economic cost of tsunami and the subsequent reconstruction and disaster relief appear manageable for India, the International Monetary Fund staff report has said.
The International Monetary Fund has asked India to speed up reforms, including removal of trade barriers, liberalisation of FDI regime and easing of labour laws, to attain over 6-6.5 per cent GDP growth.
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
Global software and services major Tata Consultancy Services is in the last stages of finalising a multi-million outsourcing contract with the International Monetary Fund. Under the deal, the IMF will offshore some of its back-office work
India's foreign exchange reserves grew by $291 million during the week ending January 28, 2005 to touch $1,29,720 million.
For the week under review, Special Drawing Rights fell by $ 13 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $3.5 million to $1.14 billion.
According to IMF, the body is planning to raise $6bn by selling 12.97 mn ounces of gold, about 12% of the total holdings it has. IMF officials said the sale would likely take place over several years in an effort to avoid market disruption. The news of the IMF decision will most probably affect the bullion market. It is a fundamental step that will enable IMF to remain an independent, astute and dynamic international organisation. It will put IMF on solid financial footing.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
China on Tuesday inked an agreement worth a whopping USD 4.8 billion with cash-strapped Pakistan to set up a 1,200-megawatt nuclear power plant as a sign of increasing strategic cooperation between the two all-weather allies.
There are several companies that are trading at attractive long-term valuations and are likely to provide investors with adequate returns.
The International Monetary Fund says India will clock growth of 8.4 per cent in the coming year.
A recession is unlikely in the APAC region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody's Analytics said on Thursday. In its analysis titled 'APAC Outlook: A Coming Downshift', Moody's said India is headed for slower growth next year more in line with its long-term potential. On the upside, inward investment and productivity gains in technology as well as in agriculture could accelerate growth.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
With the US "quietly" supporting him, former Spanish Finance Minister Rodrigo Rato is likely to become the next managing director of the International Monetary Fund, according to media reports.
India's reserve position with the International Monetary Fund was down $4.4 million to $1.67 billion.
FCAs decreased by $3.56 billion to $325.03 billion.
What some of our leaders were up to on Tuesday, November 15.
Gold reserves were up by $712 million to $34.729 billion.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
"At 11 per cent of GDP, the fiscal deficit is too high. Growth can be fast if deficit is down and faster if reforms continue," says Nicholas Stern, ex-chief economist, World Bank.
IMF chief Horst Kohler, who is in Dubai to World Bank Group and IMF meetings, did not comment on the issue of BPCL and HPCL divestment.
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