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.
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.
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.
Foreign currency assets, which are a major component of the overall reserves, rose by $646.4 million to $386.762 billion.
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.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
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.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
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.
"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.
The government on Monday approved the appointment of B P Mishra as the new executive director of International Monetary Fund.
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
An exclusive interview with Dr Raghuram Rajan, who has just been appointed Chief Economist at the IMF.
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