China will not be allowed to use the southern port of Hambantota for military purposes, Sri Lankan President Ranil Wickremesinghe has said, apparently attempting to allay fears in India and the United States about China's increasing maritime presence in the strategic Indo-Pacific region.
International Monetary Fund has warned that large fiscal deficit and public debt was hampering India's economic growth, which is slated to go up by 1.0 per cent to 5.5 per cent this fiscal in the face of good monsoon.
Indications are that Reddy will take charge as RBI Governor after the annual meeting of the IMF slated in late September.\n\n
The International Monetary Fund sees a long war in Iraq cutting global economic growth by up to two percentage points from a revised 2003 forecast of 3.3 per cent, Germany's Handelsblatt daily reported on Tuesday.
The value of the gold reserves increased $78.2 million to $22.764 billion
Gold reserves remained unchanged at $21.584 billion.
India's deployment of a direct cash transfer scheme and other similar social welfare programmes is a "logistical marvel", the International Monetary Fund (IMF) said on Wednesday. "From India, there is a lot to learn. There is a lot to learn from some other examples around the world. "We have examples from pretty much every continent and every level of income. "If I look at the case of India, it is actually quite impressive," Paolo Mauro, deputy director of the Fiscal Affairs Department at the IMF, told reporters at a news conference in Washington.
Gold reserves remained unchanged at $20.691 billion.
'If there is a push towards a Marxist oriented government it will be dangerous.' 'We have seen this in Nepal and Myanmar and it will be a concern for India if it is surrounded by countries with such political dispensations.'
Last week, the forex reserves had surged by $2.374 billion to $363.171 billion.
In the previous week, the reserves had fallen by $3.028 billion to $360.797 billion.
The reserves had dropped by $1.434 billion to $348.934 billion.
The IMF and World Bank have stopped loans, and the FATF warned its 39 member nations to block Taliban assets.
In the previous week, the reserves had fallen by $121.3 million to $360.905 billion.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
Keen to capitalise on the growing geopolitical support from African nations after the recently concluded G20 Summit, India is working with the African Union to hold the fourth India-Africa Forum Summit later this year in Kenya's Nairobi, sources said. Prime Minister Narendra Modi is expected to attend the mega meet along with as many as 50 African leaders, they added. First held in New Delhi in 2008, the India-Africa Forum Summit marked India's initial diplomatic efforts to seek a comprehensive partnership with the African bloc of nations as a whole, at a time when China had begun its own outreach.
Lagarde had said an Indian could head IMF.
The gold reserves remained unchanged at $18.691 billion.
The gold reserves remained unchanged at $18.691 billion in the week.
Continuing their rising trend, the country's foreign exchange reserves increased by $1.350 billion to touch a record high of $361.601 billion in the week to April 22.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
Arvind Panagariya, sherpa for India at the summit, tweeted about the "interaction".
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
Foreign currency assets surged $2.541 billion to $284.571 billion in the period.
Country's foreign exchange reserves declined sharply by $3.433 billion to $351.920 billion.
In the previous week, reserves had declined by $1.03 billion to $353.33 billion.
In the swap auction conducted on April 23, the Reserve Bank had received bids worth $ 18.65 billion against $ 5 billion on offer.
India's decision to ban the export of non-basmati white rice has pushed up global prices, prompting multilateral lending agencies, such as the International Monetary Fund (IMF), to call for a reconsideration of the move. Though nothing has been spelled out yet officially, sources said, the government might consider requests for government-to-government sale of non-basmati white rice, especially to West African nations where India is a major supplier. Also, traders and exporters of specialty regional rice varieties like sona masuri or gobindo bhog feel that they have been short-changed.
The next annual budget of India will have to be very carefully structured to sustain the country's growth momentum, Union Finance Minister Nirmala Sitharaman said on Tuesday, noting that it will also address inflation concerns. Visiting Washington DC to attend the annual meeting of the International Monetary Fund and the World Bank, the finance minister was responding to a question on the next year's Budget at a fire-side chat with eminent economist Eshwar Prasad at the prestigious Brookings Institute. "Specifics (of the next Budget) may be difficult at this stage because it's a bit too early. "But broadly, the growth priorities will be kept absolutely on the top. "Even as I speak about the concerns that inflation brings before me. So, inflation concerns will have to be addressed. "But then how would you manage growth would be the natural question," Sitharaman said.
The country's foreign exchange reserves crossed the $600 billion mark for the first time after increasing by $6.842 billion in the week ended June 4, RBI data showed on Friday. The reserves surged to a record $605.008 billion in the reporting week, helped by a rise in foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI). In the previous week ended May 28, 2021, the reserves had swelled by $5.271 billion to $598.165 billion.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
Foreign exchange reserves dipped marginally by $237.5 million to $355.221 billion in the week to June 26.
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