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.
IMF managing director Horst Koehler said Raghuram Rajan has been at the forefront of his work on banking and financial sector issues.
Gold reserves remained unchanged at $19.943 billion.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
Gold reserves were up by $1.525 billion in the reporting week to $37.625 billion.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
Fund raises growth forecast to 8.3% in 2006.
Upbeat over India's economy, International Monetary Fund said on Wednesday that the country had the potential to grow at 10 per cent annually for several years, higher than the Tenth Plan target of 8.0 per cent.
Gold prices are expected to slump by 5 per cent before the end of this month to $855 per ounce as leaders of G-20 nations agreed on Thursday that the International Monetary Fund should sell gold from its reserve to help stimulate the world economy.
Citing details of the contract from the American Federal Procurement Data System, the BBC report claimed that Pakistan signed two contracts with American companies named "Global Military" and "Northrop Grumman" for the sale of 155mm shells.
The gold reserves remained unchanged at $18.151 billion.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
IMF Chief Economist Raghuram Rajan has said that while the Indian government has as strong reason to feel good about the economy, a lot still remains to be done.
International Monetary Fund on Friday warned the Centre of high fiscal deficit that could come in the way of sustaining high growth in the economy, which clocked 8.4 per cent rise in the second quarter of 2003-04.
The International Monetary Fund forecast on Thursday that the Indian economy will grow 5.5 per cent in 2003-04 with some upside potential, but said fiscal deficit and public debt were an economic burden.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
After a fall last week, India's foreign exchange reserves have recorded a rise again and are nearing the $85 billion mark.
Gold reserves increased $1.54 billion to $32.68 billion in the reporting week.
International Monetary Fund has cut its 2003 global growth forecast to 3.2 per cent from 3.7 per cent due to the Iraq war and stock market declines, and is particularly worried about weak German growth.
The head of the International Monetary Fund on Tuesday forecast the global economy would grow by slightly more than 3 per cent this year and advanced economies may need to cut interest rates to support the recovery.\n\n\n\n
Asia is likely to sprint ahead of the rest of the world in 2003, but the lingering uncertainty of a Middle East war and slowing US economy can derail the region's growth engine, a top IMF official said.
The country's foreign exchange reserves rose by $1.73 billion for the week ended October 31 to $315.91 billion, show Reserve Bank of India (RBI) data released on Friday, marking one of the sharpest rises ever.
The specter of war in Iraq and instability in the world's No. 5 oil producer, Venezuela, as well as world market woes, bode poorly for the global economy, a top IMF official said on Friday.
Gold reserve also declined by $340 million to $30.55 billion.
As per the charges, these proscribed outfits were operating under the guise of charities and were involved in funnelling funds to terror suspects.
The gold reserves remained stable at $19.335 billion.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
China's gross domestic product rank dropped to number 7 from number 6, while GDP per capita jumped one place to 110th rank from 111th rank, International Monetary Fund has said.\n\n\n\n
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