IMF

  • Bottlenecks need to be cleared to woo private investments: Arvind Subramanian October 24, 2014

    Washington: Acknowledging that private investment is stifled in India due to "lots of regulations" and also scarcity of coal and electricity, new Chief Economic Adviser Arvind Subramanian has said that removing these bottlenecks will be key to kick start growth in the country. "The Indian economy needs a couple of...
  • Arvind Subramanian is a creative thinker: US think tank October 16, 2014

    Washington: Arvind Subramanian, appointed as India's Chief Economic Adviser, is more than just a mainstream macro-economist and is a creative thinker, the head of a top American think tank on economic issues said on Thursday. "Arvind is much more than your mainstream macro-economist. He is an immensely knowledgeable and creative...
  • IMF approves $130 million for Ebola-hit West African nations September 27, 2014

    Washington: The International Monetary Fund (IMF)on Friday approved a total of 130 million dollars to help Ebola-hit Guinea, Liberia, and Sierra Leone nations to tackle the virus' outbreak. The IMF said the financing would be made available to the three countries immediately, in addition to the assistance provided for them under...
  • IMF executive board backs Lagarde over corruption probe August 31, 2014

    Washington: The executive board of the IMF has expressed full confidence in its managing director Christine Lagarde, who is facing a criminal investigation in France linked to a 2008 political corruption probe. The highest decision making body of the IMF met at its headquarters here on Saturday in the wake of...
  • IMF's Christine Lagarde put under investigation in French fraud case August 27, 2014

    Paris: IMF chief Christine Lagarde has been put under formal investigation by French magistrates for alleged negligence in a political fraud affair dating from 2008 when she was finance minister. Lagarde was questioned by magistrates in Paris this week for a fourth time under her existing status as a witness in...
  • Postelection activity in India to pick up gradually, says IMF July 25, 2014

    Washington: Stating that growth appears to have bottomed out in India, International Monetary Fund (IMF) on Friday said activity is projected to pick up gradually after the postelection recovery in business sentiment, neutralising the effect of weak monsoon on agriculture. "In India, growth appears to have bottomed out, and activity is...
  • IMF congratulates BRICS for new fund, offers help July 17, 2014

    Brasilia: The International Monetary Fund on Wednesday congratulated the five BRICS countries for creating a new reserves fund that intends to challenge Western dominance in the global lender. The IMF's managing director, Christine Lagarde, said the lender would like to work with the BRICS in the new fund, which pools together...
  • BRICS to set up $100 billion development bank, first President to be from India July 16, 2014

    Fortaleza: In a major victory for India, the agreement on the much anticipated 100 billion dollars BRICS Development Bank has been sealed. The BRICS Summit on Tuesday decided to establish the new development bank with an initial authorised capital of USD 100 billion for which the initial subscribed capital will...
  • PM Modi to launch 1st multilateral engagement with BRICS leaders July 14, 2014

    Fortaleza: Prime Minister Narendra Modi will launch his first multilateral engagement with BRICS leaders, giving top priority for the establishment of the BRICS development bank with equal share holding for all the five members. India is keen on the issue of equal share holding since it doesn't want a repeat of...
  • IMF cuts US growth outlook, says full employment years off June 17, 2014

    Washington: The International Monetary Fund cut its growth forecast for the United States on Monday and said the economy would not reach full employment until the end of 2017, allowing the Federal Reserve to bide its time before raising interest rates. In its annual health check of the US economy, the...
  • Anand Sharma thanks USTR, WTO and IMF chiefs for supporting India May 14, 2014

    Commerce and Industry Minister Anand Sharma has written farewell letters to United States Trade Representative and chiefs of WTO and IMF thanking them for extending support to India at multilateral forums. "As I approach the end of my tenure and prepare to demit office by the end of this week, I...
  • India not pursuing any agenda for expansion of BRICS May 13, 2014

    New Delhi: India on Tuesday said that it will not pursue any agenda for expansion of BrazilRussiaIndiaChinaSouth Africa (BRICS) bloc during the upcoming summit in July in Brazil. Noting that the interest of Argentine and various other countries to join BRICS is wellknown, official sources said currently there was no...
  • G-7 countries ready to aid Ukraine March 3, 2014

    Washington: Amidst raging tension, the group of seven rich economies (G-7) has committed itself to Ukraine's economic assistance and revival as long as Kiev agreed to pursue economic reforms sought by the IMF. In a statement, G-7 countries welcomed the decision of the International Monetary Fund (IMF) to send a team...
  • Satisfied with G20 outcome, concerns on board: Chidambaram February 23, 2014

    Sydney: Satisfied with the outcome of G20 meeting, Finance Minister P Chidambaram on Sunday said India's concerns with regard to withdrawal of US stimulus and the need to expedite IMF quota reforms have been taken on board by the group of rich and developing nations. "The communique has been drawn by...
  • RBI will need to keep raising policy interest rate: IMF February 22, 2014

    Mumbai: The Reserve Bank of India will need to continue raising its policy interest rate given the sticky nature of inflation, the International Monetary Fund said on Thursday. "The ingrained nature of inflation and inflation expectations mean that reducing inflation even over a protracted horizon will require significant increases...
  • Indian economy much more resilient to external shocks: IMF February 21, 2014

    The Indian economy is much more resilient to external shocks now than was last year, a top IMF official has said, attributing this to a series of administrative decisions and policy measures taken by the Union Government. "We see India much more resilient than they were about the middle of last...
  • I am not a superman, says RBI governor October 13, 2013

    Washington:With a "little bit of euphoria" surrounding him with the arrest of the Indian rupee's slide, RBI's new governor, Raghuram Rajan, has sought to temper expectations saying "I am not a superman". Portraying himself as a regular guy with "a wife and two kids," he told a Washington audience on Saturday...
  • India won't seek IMF funds in five years: Rajan October 11, 2013

    India is not facing any economic crisis and won't approach IMF for funds in the next five years as the country has enough forex reserves, Reserve Bank Governor Raghuram Rajan has said. "There's no way we are close to being a country in financial or economic crisis...There's not a chance we...
  • India rejects IMF projections on economic growth October 9, 2013

    New Delhi: India on Wednesday rejected IMF's growth projections of 3.75 per cent for the current fiscal as "pessimistic", saying that the economy is turning around and the GDP expansion will exceed 5 per cent. "I reject the IMF numbers. The Indian economy is seeing turnaround both in terms of growth...
  • Rupee trims early losses, still down 39 paise against dollar October 9, 2013

    Mumbai: In line with the equity market, the rupee trimmed early losses and was quoted down 39 paise to 62.18 against the dollar on demand from banks and importers for the US currency as it strengthened overseas. The rupee resumed lower at 62.07 per dollar as against the previous close of...
  • Chidambaram to arrive in US today for World Bank annual meeting, likely to discuss tax issues October 9, 2013

    US Treasury Secretary Jacob Lew is likely to raise issues of taxation and deepening collaboration on combating illicit financial activity with Finance Minister P Chidambaram, who arrives in US on Wednesday to attend the IMF/World Bank annual meetings. Lew will host Chidambaram on October 13 for the fourth annual meeting of...
  • P Chidambaram visits US, to woo investors October 8, 2013

    New Delhi, Oct 8 (IANS)Finance Minister P Chidambaram will be on a week's visit to the US beginning Wednesday to woo foreign investors and attend the annual meeting of the World Bank and the International Monetary Fund. According to a finance ministry statement here, Chidambaram will attend annual plenary meetings of...
  • IMF lowers India's growth projections to 3.8 percent October 8, 2013

    Washington:With the world economy entering yet another transition, the International Monetary Fund (IMF) expects India to grow at around 3.8 percent in fiscal 2013, about 1.8 percentage points lower than its July projection. For fiscal year 2014, growth is projected to accelerate somewhat to 5 percent, again 1.1 percentage points lower...
  • US debt crisis threatens world economy: IMF October 4, 2013

    Washington: Terming the current debt crisis in America as "missioncritical", the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. "The ongoing political uncertainty over the budget and the debt ceiling does not help. The government...
  • MFN Status will be given to India: Pakistan September 7, 2013

    Islamabad: Pakistan has assured the International Monetary Fund (IMF) of granting the most favoured nation (MFN) status to India. In a written assurance to the IMF, Pakistan said it was moving forward with eliminating the negative list on trade with India as part of its overall trade policy. "We are moving forward...
  • Raghuram Rajan takes over as RBI governor September 4, 2013

    Raghuram Rajan takes over as governor of the Reserve Bank of India in a difficult time. But the 50-year-old former IMF chief economist has already had a taste of working with the government: He was Chief Economic Advisor in the finance ministry under P Chidambaram. His move to the RBI...
  • Montek Singh Ahluwalia rules out approaching IMF over economic woes August 31, 2013

    Hit by a currency crisis and poor growth, India on Saturday ruled out approaching the International Monetary Fund (IMF) for assistance, saying the economic situation has not reached a point where outside help is warranted. Planning Commission Deputy Chairman Montek Singh Ahluwalia said the RBI's forex reserves are adequate to manage...
  • RBI chief Raghuram Rajan: The young, outspoken former IMF heavyweight August 7, 2013

    New Delhi: India named a former International Monetary Fund chief economist to head the Reserve Bank of India on Tuesday, giving fresh impetus to efforts to revive a struggling economy and a currency that is languishing at record lows. Raghuram Rajan, who predicted the global financial crisis in 2005, will take...
  • IMF agrees to give Pak USD 5.3 bln loan to boost growth July 5, 2013

    Islamabad: The International Monetary Fund on Thursday agreed to extend a USD 5.3 billion threeyear loan facility to Pakistan to boost the country's foreign exchange reserves, fight an acute energy crisis, and prop up a sliding currency. Pakistan Finance Minister Ishaq Dar and Head of the IMF Mission Jeffrey Franks told...
  • India to grow at about 5.8 in FY14: IMF May 1, 2013

    New Delhi: IMF has projected 5.8 per cent economic growth for India in this fiscal 201314 and said pace of investment in infrastructure should increase to get back to 8 per cent expansion level. "We are forecasting India to grow at about 5.8 per cent this...