Christine Lagarde recently gave a speech in which she outlined steps needed to avoid future global crisis.
A rapidly deteriorating balance of payments may warrant that but the political climate is too risky
Venu Rajamony, a career diplomat, has been appointed as press secretary to President Pranab Mukherjee.
Venu Rajamony, a career diplomat, has been appointed as press secretary to President Pranab Mukherjee.
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
The International Monetary Fund (IMF) said on Thursday that a multilateral response is critical to overcome the COVID-19 pandemic in India and globally as it hailed recent announcements by several countries to provide immediate support to India. India is struggling with a second wave of the pandemic with more than 300,000 daily new coronavirus cases being reported in the past few days, and hospitals are reeling under a shortage of medical oxygen and beds.
Indian economy is expected to grow at decade low of 4.9 per cent in 2013-14.
The country secured a euro 7.16 billion bridge financing from the European Financial Stability Mechanism
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
International Monetary Fund has said more remains to be done to put the US public finances back on sustainable path.
Pranab said he had clarified this issue in no uncertain terms with US Treasury Secretary who had brought up this issue during bilateral talks.
The International Monetary Fund (IMF) has cut down its 2013 forecast for global economic growth to 3.9 per cent from the 4.1 per cent, trimming projections for most advanced and emerging economies.
China's banks and financial sector are healthy, but there are vulnerabilities that should be addressed by the authorities.
Gold reserves remained unchanged at $21.584 billion.
"The Executive Board will meet with the candidates in Washington and, thereafter, meet to discuss the strengths of the candidates and make a selection," the official IMF statement said.
Revising its economic outlook, International Monetary Fund (IMF) today marginally brought down India's growth rate projections to 5.6 per cent for this fiscal and 6.3 per cent for the next financial year.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
Lagarde said that she had elaborate discussions on the general economic situation.
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday. However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said in its latest 'World Economic Outlook' report.
Prime Minister Manmohan Singh has expressed disappointment at developing countries being ignored in the selection of the president of world's key financial body, the International Monetary Fund (IMF).
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.
'If the Olympics were to spread infection, then what are the Olympics for?'
The Indian economy is rapidly normalising towards pre-pandemic activity levels, even as uncertainty exists about coronavirus mutations and repeated infection waves, industrialist Kumar Mangalam Birla said on Wednesday. Vaccination is picking up pace, which would improve India's resilience against a potential third wave, the chairman of Aditya Birla Group said while virtually addressing shareholders at the AGM of group firm UltraTech Cement Ltd. Moreover, various steps taken by the RBI and the government have helped in containing the economic disruptions of the pandemic, Birla added.
FM's top adviser Raghuram Rajan had earlier said that the target was tough to meet.
When Pandit was in Japan last week, meeting International Monetary Fund and World Bank officials, Michael E O'Neill, the new chairman of Citigroup since April, was applying the final touches of his masterplan to remove Pandit.
European Union leaders are expected to clear the way for releasing 31.5 billion euro ($41 billion) in urgently-needed financial assistance for debt-stricken Greece at their two-day summit which opens in Brussels today.
German Chancellor Angela Merkel had assured the Greek leaders her continued support for the country to remain in the euro zone when she last Wednesday made her first visit to Athens in nearly three years.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Finance Minister P Chidambaram at the Group of 24 Meeting of the Ministers at the International Monetary Fund headquarters in Washington, DC on Thursday.
The International Monetary Fund has lowered India's economic growth forecast by 1 per cent to 5-6 per cent for 2012-13.
Many including IMP oppose allowing industrial houses to set up banks.
The IMF said in its latest report that the global economy is likely to grow at a slower rate than previously forecast over the next two years.
The RBI issued a fairly gloomy forecast in its monetary policy statement last Friday.
Last week, the forex reserves had surged by $2.374 billion to $363.171 billion.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
In the previous week, the reserves had fallen by $3.028 billion to $360.797 billion.
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