IMF

  • India will clock 7.5 per cent growth in 2015-16, overtake China: IMF 3 days ago

    Washington: India will overtake China as the fastest growing emerging economy in 2015-16 by clocking a growth rate of 7.5 per cent on the back of recent policy initiatives, pick-up in investments and lower oil prices, the International Monetary Fund (IMF) said on Tuesday. "India's growth is expected to strengthen from...
  • IMF approves $6.6 billion for Pakistan in 3-year arrangement March 28, 2015

    Islamabad: The IMF has approved giving US dollar 6.64 billion to Pakistan over three years to support the country's economic reforms and growth, saying it has "abundant potential" despite the challenges it faces, according to a media report on Saturday. The approval enables an initial disbursement of about US dollar 544.5...
  • IMF for greater say to India; US not ratifying reforms: Christine Lagarde March 16, 2015

    New Delhi: Pitching for greater say to India at the IMF, its chief Christine Lagarde on Monday said the US is "not ratifying" the quota reforms that would facilitate larger roles of emerging economies at the multilateral institution. The International Monetary Fund is looking at alternatives to realign quotas that...
  • India better prepared for external financial shocks: IMF March 16, 2015

    New Delhi: India is better positioned to cope with external financial shocks than most emerging market economies, International Monetary Fund head Christine Lagarde was quoted saying on Monday, just ahead of a of a crunch meeting of the US Federal Reserve. The Fed is expected to signal an increase in its...
  • No reason why India can't resume 8 or 9 per cent growth: IMF March 12, 2015

    Washington: Calling for a whole set of structural reforms, the International Monetary Fund has said there is no reason why India could not resume an eight or nine per cent or even higher growth rate in the coming years. The IMF has at least at this stage pegged a kind of...
  • IMF raises growth forecast for India to 7.2% in FY15 but warns of both global and domestic risks March 12, 2015

    Mumbai: The International Monetary Fund has raised the growth forecast for India in the current fiscal to 7.2 per cent but warned that both global and domestic risks could rock the boat. The IMF says India is poised to grow at a faster pace in this fiscal, especially given the...
  • IMF approves US dollar 17.5 billion aid for Ukraine March 12, 2015

    Washington: The International Monetary Fund approved a US dollar 17.5 billion aid plan for crisis-wracked Ukraine, whose economy is reeling from a pro-Russia insurgency in its industrial heartland. The new loan, with US dollar 5 billion to be disbursed immediately, replaces an IMF programme less than one year old that proved...
  • India's economy recovering, reforms vital, says IMF March 11, 2015

    New Delhi: India's economy is recovering and its ability to withstand external shocks has improved, but growth is likely to fall short of government targets, the International Monetary Fund said on Wednesday. In an annual report, the IMF forecast that Asia's third-largest economy would grow by 7.5 percent in the 2015/16...
  • IMF, World Bank to provide financial assistance to Ukraine February 13, 2015

    Washington: The IMF and the World Bank have agreed to provide massive financial assistance to strife-torn Ukraine US dollar 19.5 billion in all to bail it out of an economic crisis. The International Monetary Fund (IMF) and Ukraine on Thursday agreed on a US dollar 17.5 bailout package with the World...
  • It's official: India is fastest growing big economy February 9, 2015

    New Delhi: Taken at face value, India on Monday became the fastest growing major economy in the world after its statisticians changed the way they measure Asia's third-largest economy and showed it clocked faster growth than China in the December quarter. It marks a dramatic turnaround for an economy that a...
  • India's growth rate will increase by 6.3 per cent this year, surpass China's by 2016: IMF January 20, 2015

    Washington: India is expected to grow at 6.3 per cent this year and 6.5 per cent in 2016 by when it is likely to cross China's projected growth rate, the IMF said while terming the new government's reforms as "promising" but insisted that their implementation is key. In 2014, India's growth...
  • IMF agrees to release $ 1 billion to Pakistan December 18, 2014

    Washington: The International Monetary Fund (IMF) has agreed to release another USD 1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis. With this, the total disbursements under the arrangement is about USD 3.2 billion, a statement said after the IMF Executive...
  • 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...