International Monetary Fund

  • India's growth likely to recover to 5.4 per cent in 2014: IMF 08-04-2014 06:58 PM

    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 on Tuesday. "India's growth is expected to recover from 4.4 per cent in...
  • Obama names Indian-American as alternate IMF director 04-04-2014 10:57 AM

    President Barack Obama is nominating Sunil Sabharwal, an independent Indian American investor in the payments sector, to a key job as US Alternate Executive Director at International Monetary Fund. "I am grateful these accomplished men and women have agreed to join this Administration, and I'm confident they will serve ably...
  • G-7 countries ready to aid Ukraine 03-03-2014 12:10 PM

    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...
  • Satisfied with G20 outcome, concerns on board: Chidambaram 23-02-2014 01:50 PM

    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...
  • Up to 15, mostly foreigners, killed in Kabul suicide attack 18-01-2014 09:45 AM

    Kabul: Up to 15 people, mostly foreigners, were killed on Friday when a suicide bomber blew himself up outside a popular Lebanese restaurant in the Afghanistan capital of Kabul, police said. Islamist Taliban insurgents claimed responsibility for the attack in the upscale Wazir Akbar Khan district, which hosts many embassies...
  • India's foreign exchange reserves drop by $12.6 mn 28-12-2013 04:39 PM

    Mumbai: India's foreign exchange (forex) reserves declined by $12.6 million to $295.50 billion for the week ended December 20, Reserve Bank of India (RBI) data showed. This is the second consecutive week of decline in the country's forex reserves. The foreign exchange reserves had declined by $192.8 million to $295.51...
  • India rejects IMF projections on economic growth 09-10-2013 09:58 PM

    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...
  • P Chidambaram visits US, to woo investors 08-10-2013 08:15 PM

    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...
  • IMF lowers India's growth projections to 3.8 percent 08-10-2013 06:47 PM

    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...
  • New RBI chief says economy strong, needs to build a bridge to the future 04-09-2013 11:22 PM

    New Delhi: Immediately after assuming office, the new Governor of the Reserve Bank of India, Raghuram Rajan, said on Wednesday that the country's economy was "fundamentally sound" and had a "bright future" in his first remarks at the central bank earlier in the day. "These are not easy times, and...
  • Raghuram Rajan takes over as RBI governor, raises hopes with his plan 04-09-2013 10:24 PM

    New Delhi: New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalise financial markets and the banking sector. In an unexpectedly detailed and wide-ranging briefing, Rajan outlined...
  • New RBI governor Raghuram Rajan steps into the heart of the rupee storm 04-09-2013 07:49 AM

    Raghuram Rajan, a suave, unflappable University of Chicago economist, stepped into the heart of the storm roiling India's economy on Thursday as the Reserve Bank of India's new governor and chief defender of a nose-diving rupee. The currency has plunged nearly 20 per cent since May as Asia's third-largest economy...
  • Raghuram Rajan to take over as RBI Governor on Wednesday 03-09-2013 03:46 PM

    Internationally renowned economist Raghuram Rajan will take over as RBI Governor on Wednesday and plunge straight into a fire-fight situation as the country battles a rapid fall in rupee, high inflation, low growth and burgeoning current account deficit (CAD). 50-year-old Rajan, a former chief economist with the International Monetary Fund...
  • Montek Singh Ahluwalia rules out approaching IMF over economic woes 31-08-2013 06:21 PM

    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...
  • Govt has not drawn any red line on rupee value, says Montek 25-08-2013 07:29 PM

    In the backdrop of the declining value of India's currency, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Sunday said the government has not drawn any red line on the rupee, which he felt has over depreciated. "I don't believe that either the government or the RBI have taken a...
  • IMF cautions countries against withdrawing stimulus, unconventional monetary policies 24-08-2013 09:15 AM

    International Monetary Fund (IMF) chief Christne Lagarde has cautioned the countries across the world against withdrawal of stimulus or unconventional monetary policies (UMP). Lagarde on Friday asserted that the stimulus helped support economic stability at both domestic and global level. Early in the crisis, the UMP helped prevent a collapse...
  • CPI(M) blames high current account deficit for falling rupee 16-08-2013 05:20 PM

    The volatility in rupee value was "bound to happen" due to a very high current account deficit and the situation was akin to the major financial crisis faced by India in 1991, the CPI(M) said on Friday. "It is clear that a very serious current account deficit has built up...
  • RBI chief Raghuram Rajan: The young, outspoken former IMF heavyweight 07-08-2013 08:35 AM

    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...
  • Ex-IMF chief Strauss-Kahn to be tried for pimping 27-07-2013 08:19 AM

    Former IMF head Dominique Strauss-Kahn will be tried in France on pimping charges, prosecutors said on Friday, after a long inquiry into sex parties attended by the man whose presidential hopes were dashed by a separate 2011 U.S. sex scandal. Investigating judges in the case determined that Strauss-Kahn, 64, should...
  • India to grow at about 5.8 in FY14: IMF 01-05-2013 08:55 PM

    New Delhi: IMF has projected 5.8 per cent economic growth for India in this fiscal 2013-14 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 fiscal (2013-14) and 6.3...
  • Indian economy will grow by 6.1 pc this fiscal: World Bank 30-04-2013 01:39 PM

    New Delhi: World Bank on Tuesday scaled down India's growth forecast to 6.1 per cent for the current fiscal from 7 per cent projected six months ago. The decline in the growth forecast is largely due to the decline in agriculture sector which is expected to grow at 2 per...
  • Global economy avoided the worst but still shaky: IMF 20-04-2013 11:55 PM

    Washington: The global economy might have avoided the worst but it is by no means out of the woods, the International Monetary Fund said on Saturday adding that emerging markets face the risk of avoiding potential financial excesses and as such they should rebuild macroeconomic policy space and further strengthen...
  • 2G scam: Chidambaram refuses to comment on JPC report 20-04-2013 01:41 PM

    Washington: Finance Minister P Chidambaram on Saturday refused to comment on the JPC draft report which gives him a clean chit in the 2G scam, saying that he has "never been concerned" about the allegations. "I have never been concerned about these allegations. In fact my concern has been the...
  • India likely to improve fiscal situation in 2013: IMF 17-04-2013 01:50 AM

    Washington: At a time when many countries are facing challenges on the fiscal consolidation front, India with its favorable interest rate growth differential has an advantage in addressing deficit concerns in 2013, International Monetary Fund (IMF) said on Tuesday. In its latest edition of annual Fiscal Monitor report, the IMF...
  • IMF recognises Somalia after 22 years of chaos 13-04-2013 10:30 AM

    Washington: The International Monetary Fund has announced that it is recognising Somalia's new government after a 22-year break in relations with the once-chaotic country, part of a general push by the United States, United Nations and the West toward encouraging rehabilitation there. The US formally recognised the African nation's new...
  • Inflation likely to remain stable as recovery strengthens: IMF 09-04-2013 07:41 PM

    Washington: Asserting that inflation is likely to remain stable as the recovery strengthens, the International Monetary Fund has said fears about high inflation should not prevent monetary authorities from pursuing highly accommodative monetary policy. "With long-term inflation expectations firmly anchored, inflation is also likely to remain stable as the recovery...
  • IMF Chief warns of another great depression 16-12-2011 08:27 AM

    Speaking at the US State Department Christiane Lagarde speaking on escalating euro zone crisis also called for collective action. ...
  • No country immune from economic crisis: Lagarde 16-12-2011 07:59 AM

    Washington: No country is immune from an "escalating" euro zone crisis and each one must act to head off the risk of a global depression, the head of the International Monetary Fund said on Thursday. IMF Managing Director Christine Lagarde, speaking at the US State Department, said the outlook for...
  • Less faith in concept of free market: Arun Maira 18-11-2011 11:14 AM

    "There comes a tide in the affairs of men," Shakespeare cautioned. Tsunami warnings are now ringing about the global economy. The global financial system is under stress. Economic growth is stumbling. Confidence in governments is decreasing everywhere. Multilateral institutions like the WTO (World Trade Organization) and IMF (International Monetary Fund),...
  • Asia not immune to euro zone woes: IMF chief 12-11-2011 08:44 AM

    Tokyo: Asia clearly continues to drive global economic recovery, but if strains in the euro zone worsen the region will be negatively affected via trade and financial sector links, International Monetary Fund chief Christine Lagarde said on Saturday. Lagarde was speaking at a news conference after a meeting with Japanese...