The IMF and World Bank have stopped loans, and the FATF warned its 39 member nations to block Taliban assets.
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
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 value of the gold reserves increased $78.2 million to $22.764 billion
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'.
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 (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
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.
Gold reserves remained unchanged at $21.584 billion.
Gold reserves remained unchanged at $20.691 billion.
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.
In the previous week, the reserves had fallen by $121.3 million to $360.905 billion.
The international community counts a lot on India's leadership of the G-20 at a time when the world is faced with the continued economic slowdown and social distress, the chief of the International Monetary Fund Kristalina Georgieva has said. "India, which is the president of G-20 countries, remains among the countries that perform better than the global average and by a good percentage," IMF managing director Kristalina Georgieva told reporters during a media roundtable on Thursday. India formally assumed the G20 (Group of 20) Presidency on December 1.
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.
The gold reserves remained unchanged at $18.691 billion.
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.
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.
The gold reserves remained unchanged at $18.691 billion in the week.
Arvind Panagariya, sherpa for India at the summit, tweeted about the "interaction".
Lagarde had said an Indian could head IMF.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
In the swap auction conducted on April 23, the Reserve Bank had received bids worth $ 18.65 billion against $ 5 billion on offer.
Country's foreign exchange reserves declined sharply by $3.433 billion to $351.920 billion.
Foreign currency assets surged $2.541 billion to $284.571 billion in the period.
With India's G20 presidency ensuring several tangible outcomes, world leaders at the two-day summit in New Delhi hailed Prime Minister Narendra Modi for his 'decisive leadership' and for championing the voice of the Global South, sources said on Sunday.
In the previous week, reserves had declined by $1.03 billion to $353.33 billion.
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
Shehbaz, 72, who was the consensus candidate of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP), received 201 votes, 32 more than what was required to become leader of the House in the 336-member Parliament.
Notably, Ukrainian forces disabling bridges across the Dnipro river and attacking Russian supply lines made it very difficult for Russia to defend the occupied territory.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
Extreme poverty in India declined by 12.3 percentage points between 2011 and 2019, with rural areas doing better than urban centres, according to a working paper of the World Bank. India has not released a new household consumption survey since the NSS from 2011. By extension, the country has not released any official estimates of poverty and inequality for over a decade now, added the paper co-authored by economists Sutirtha Sinha Roy and Roy van der Weide.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
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