A look at who own the most amount of gold in the world.
Until now the Fund has sold 212 metric tonnes of gold but it was limited to central banks.
'Whatever else may or may not happen, China and its people are likely to pay a very heavy price for the lack of transparency of its Communist regime,' predicts Colonel Anil A Athale (retd).
Gulf Cooperation Council member countries will see their gross domestic product grow at 5.2 per cent in 2010 on the back of rising oil revenues, the IMF has said.
It might help alleviate the economic crisis by addressing the root cause of the unwillingness to spend, says Robert J Shiller.
Kaushik Basu, the C Marks Professor of International Studies, professor of economics, and director of the Center for Analytic Economics at Cornell, has been asked informally if he would consider becoming Chief Economic Advisor (CEA), a post that will fall vacant after Arvind Virmani ends his tenure and leaves to join the International Monetary Fund at the end of the month.
'The impact of COVID-19 on the economy has been so overwhelming that even a significant drop in global oil prices, which in normal times would have brought cheer, has posed new challenges for the government,' observes A K Bhattacharya.
Asian economies are unlikely to undergo a sustained recovery until mid-2010 and can not rely on China to pull the region out of its current slump, a senior International Monetary Fund official said on Wednesday, casting doubts on a "green shoots" theory that has helped bolster Asian stock markets recently.
The announcement has been enabled by the IMF's recent announcement of a framework for issuance of notes to the official sector. These notes will allow investments in the IMF to be treated as international reserves. Therefore, RBI will be able to invest a portion of its foreign reserves in the IMF.
The International Monetary Fund (IMF) and the World Bank (WB) has said the current global economic crisis is turning into a human calamity as it has hit millions of poor people across the world.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
It will depend on how the Fund chooses to deploy its newfound power, asks Dani Rodrik.
It's hoped the negotiations can be wrapped up by August 20.
The International Monetary Fund expects global GDP to grow by around 1.5 per cent, but global trade will shrink by perhaps 8 to 10 per cent. India's exports too have suffered the same fate.
This week's Group of 20 meeting already has a packed agenda: maintaining demand, repairing the global financial system and increasing the International Monetary Fund's resources.
Gold prices on Thursday crossed the crucial Rs 17,000 per 10 gram level in the bullion market here, buttressed by frantic buying by jewellers for the ongoing marriage season amid a firming global trend.
The best way to invest in gold is in a staggered manner, to take benefit of any sharp corrections that could come in it.
BRICS has no plans to form a military and political alliance, Russian President Vladimir Putin said on Wednesday, in an apparent effort to allay apprehensions of the West.
Gold gained Rs 50 and touched a new peak of Rs 16,850 per 10 gram.
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.
"This is the third year in a row that India makes to top 10 in Doing Business, which is a success which very few countries have done over the 20 years of the project, Without exception, the other countries that have done this are very small, population-wise, and homogeneous," Simeon Djankov, Director of Development Economics at the World bank told PTI in an interview.
Many analysts were surprised at the speed with which India bought the IMF gold. However, they believe that it is a very smart move as by buying IMF gold, New Delhi is shoring up its bullion reserves and slowly trying to hedge its bets on the US dollar which has been losing value against other currencies.
The IMF targets to sell about 403.3 metric tonnes of gold to shore up its finances so that it can lend money to the poorest countries at concessional rates.
Asian economies have been very strong in their stimulus from both monetary and fiscal sources.
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.
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