India hopes to increase its share in the quotas of multilateral development banks like the International Monetary Fund and Asian Development Bank after major stakeholders in them bring forward the issue of quota review and expanding in accordance with current realities that will give proper representation to the emerging economies.
The International Monetary Fund welcomed the commitment made by the G-20 Summit on Thursday to enhance the multilateral agency's ability to support emerging markets and low-income countries, and to bring the world economy out of its deepest post-war recession.
Intervening in a Security Council debate on post-conflict peace-building, Indian Ambassador Nirupam Sen roundly criticised Bretton Woods institutions, including the International Monetary Fund, for non-involvement of such nations in the planning for development.
Addressing reporters on the occasion of release of G-20 Surveillance Note in Washington on Thursday, senior IMF officials, however, emphasised that the world body expects advanced countries to turn around and grow at a moderate pace in 2010.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
The belief that the Fed knows something that lesser mortals don't is common.
British Prime Minister David Cameron on Tuesday said an Indian or Chinese could be the next chief of the International Monetary Fund, and played down the chances of his predecessor Gordon Brown taking over the key position.
In an effort to allow 19 poor countries to promote growth and make progress towards achieving the Millennium Development Goals, the International Monetary Fund will grant 100 per cent debt relief to them amounting to $3.3 billion
The International Monetary Fund is going through interesting times. It is in the process of reforming a number of funds, core functions and aligning itself to the current economic realities.
International Monetary Fund has warned emerging markets, which have so far weathered the ongoing financial crisis, that they may not be completely insulated, while noting that risks to India's financial sector appeared manageable. The top international organisation has raised the assessment of market risks for the emerging markets including on capital flows. It said that despite generally strong external positions, some concerns have arisen about dollar funding in Asia.
The International Monetary Fund has welcomed the decision of the United Arab Emirates to come to the rescue of its banks in Dubai and said it is monitoring the situation that took the world market by surprise.
It might help alleviate the economic crisis by addressing the root cause of the unwillingness to spend, says Robert J Shiller.
If Kamal Nath launches a broadside, it is because his ministry now can no longer afford to ignore the advice that comes from Yojana Bhavan.
India's external debt rose by 16.46 per cent to $261.4 billion at the end of 2009-10 on the back of an improved liquidity in the global financial system along with an additional allocation of special drawing rights of the International Monetary Fund.
The gold reserves remained unchanged at $18.691 billion.
Thousands of demonstrators have hit the streets since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply.
The International Monetary Fund has said that it expects India's economic growth to accelerate and inch closer to that of China.
The gold reserves remained unchanged at $18.691 billion in the week.
India's reserve position with the International Monetary Fund was down $4.4 million to $1.67 billion.
Indian economy is expected to grow by 10 per cent or more in the current fiscal, and 8 per cent plus in the next fiscal year, Niti Aayog Vice-Chairman Rajiv Kumar said on Tuesday. Addressing a book launch event, Kumar further said that seven years of the Modi government has laid a strong economic foundation for businesses to thrive in India. "There was a hiccup (in economic growth) for two years due to COVID-19 pandemic.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Democracy, nation-state and globalisation can't go together; we can have at the most two at one time, says Dani Rodrik.
The Indian economy, by and large, will withstand the current crisis like it withstood the Asian and Western world credit crises.
Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy Rs 1 lakh crore of government bonds. "We had initially expected another policy rate cut to arrest the rise in government bond yields since the Union Budget announcement in February. "However, having an explicit bond purchase guidance from the RBI following the announcement of the G-SAP will also achieve a similar effect, if not even be more effective than a rate cut on capping the increase in bond yields," it said in a note. The Reserve Bank of India (RBI) held its policy repurchase (repo) rate unchanged at 4 per cent at its monetary policy meeting on April 7.
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