Apart from Lagarde, Mexican central bank governor Agustin Carstens and Kazakhstan's central bank governor Grigory Marchenkois are in the fray for the IMF managing director's post which fell vacant after the ignominious exit of Dominique Strauss-Kahn last month.
India's forex reserves increased by $5.08 billion to $595.4 billion during the week ended November 17, the Reserve Bank said on Friday. In the previous reporting week, the kitty declined $462 million to $590.32 billion. For the week ended November 17, the foreign currency assets, a major component of the reserves, increased $4.39 billion to $526.39 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI).
The GST will subsume excise, service tax, value added tax, octroi etc.
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said.
International Monetary Fund (IMF) expects India's inflation to hover around 2 per cent during 2009-10, mainly on account of declining commodity prices and weakening demand resulting from economic slowdown.
India's forex kitty decreased by $462 million to $590.32 billion for the week ended November 10, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by $4.67 billion to $590.78 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billio
Brazil, Russia, India, China and South Africa came out in the open on Tuesday to oppose the notion that the next Managing Director of the International Monetary Fund (IMF) should be from Europe and argued that such a selection criteria undermines the legitimacy of the fund.
The International Monetary Fund has said that it would be prudent to gain sufficient experience by implementing a comprehensive framework before deciding on the entry of 'mixed groups and conglomerates' into commercial banking.
The Bush administration voted for the Canadian candidate instead of Chidambaram, who till end of September had been the front-runner to head the IMF's influential Monetary and Financial Committee.
With the Cabinet clearing the proposed amendment in IMF's Articles of Agreement, India's quota is slated to go up from 1.91 per cent to 2.44 per cent in the world body. As such, India's voting rights are also scheduled to increase from 1.88 per cent to 2.34 per cent, enabling it to have a greater say in the functioning of the Fund.
International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today commended India's role in managing capital inflows, which have already crossed $50 billion this year--about 4 per cent of the country's Gross Domestic Product (GDP).
Asia has more than one candidate who fits the bill.
International Monetary Fund chief Dominique Strauss-Kahn, widely expected to run for the French Presidency next year, has been arrested in New York over an alleged sex attack on a hotel maid. Strauss-Kahn, 62, managing director of the Washington-based IMF since 2007, was taken off an Air France plane's first-class cabin at the John F Kennedy International Airport and apprehended by detectives. "He is being arrested for a criminal sex act, attempted rape," they said.
The global financial system needs more regulatory reforms to reduce the possibility of another meltdown, according to experts at International Monetary Fund.
The 2024 general elections are due in April-May and Fitch expects the Modi government to come back to power for the third time.
P Chidambaram said to be able to play a meaningful role in the global governance, the G-20 agenda should be sharper and focused only on those issues on which it can make a distinctive contribution, particularly, on economic and financial matters.
Prime Minister Manmohan Singh told the global community that India is willing to increase its contribution to the International Monetary Fund but does not intend to borrow any money from the multilateral lending agency.
It will take 1/10th of the current expenditure on subsidy to benefit the bottom 40 per cent of the population, according to Laura Papi, Assistant Director, Asia and Pacific Department at the International Monetary Fund.
There is a significant risk that advanced economies could experience another downturn, said the World Economic Outlook report released on Thursday.
International Monetary Fund has completed the sale of 403.3 tonnes of gold, as part of its two-year efforts to bolster the lender's finances that also saw India's central bank purchasing 200 tonnes of the precious metal last year.
In a move intended to reassure the jittery financial markets, the European Commissioner for Monetary Affairs, Olli Rehn, on Thursday stressed the fact that the European Union and the International Monetary Fund (IMF) were aware of the need to move swiftly to help an overly indebted Greece.
The International Monetary Fund has said India should make its financial system more efficient and hasten structural reforms to sustain high economic growth, which averaged about eight per cent in the last three years. \n
The International Monetary Fund (IMF) has said the tightening of monetary policy by India is an 'appropriate' step, as the country is faced with high inflation and needs to consolidate the fiscal measures initiated during the slowdown.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
Cautioning that economic recovery remains tentative, the International Monetary Fund has said global growth is still prone to new "shocks".
The International Monetary Fund, in its latest World Economic Outlook, projected an average growth rate of about 3.8 percent in market prices for India in fiscal 2013, which is expected to pick up to 5.1 per cent next year.
India's forex reserves declined by $2.36 billion to $583.53 billion during the week ended October 20, according to the Reserve Bank of India data. In the previous reporting week, the overall reserves had increased by $1.15 billion to $585.89 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year.
The country will get more voice in decision-making at IMF.
India last year announced tax cuts and increased expenditure to prop up the economy hit by the global economic slowdown.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
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The country has enough forex reserves to meet the demand.
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 pledge was made at an informal meeting of Braliz, Russia, India and China leaders presided over by Prime Minister Manmohan Singh ahead of the opening of the seventh G-20 Summit in this Mexican resort town. Besides India, the other nations in BRICS are China, Russia, Brazil and South Africa.
The IMF, in pursuance of the decisions taken at the G-20 summit in London, had decided to sell about 403.3 tonnes of gold to shore up its finances so that it can lend money to the poor countries at concessional rates.
'Five months after the elections in February 2024, the Pakistan army has not been able to break Imran Khan's resolve and break his political party.'
