The International Monetary Fund (IMF) slashed India’s growth forecast to 9.5 per cent for the fiscal year 2021-22, a report released on Tuesday showed. Previously in April, IMF had projected India’s gross domestic product (GDP) to grow at 12.5 per cent.

The global economy, ravaged by the Covid-19 pandemic, is projected to grow at 5.5 per cent in 2021 and 4.2 per cent in 2022, the International Monetary Fund (IMF) said on Tuesday, reflecting the expectations of a vaccine-powered strengthening of business activities later in the year and additional policy support in a few large economies.

The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.

The head of the International Monetary Fund (IMF) said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.

China is recovering fast ahead of most large economies, but the recovery is still unbalanced and facing significant downside risks, the IMF has said, projecting an eight per cent growth rate for the world’s second largest economy in 2021. ​​However, the main concern around the Chinese recovery that the International Monetary Fund (IMF) has is … Continue reading IMF says China recovering fast ahead of most big economies

Congress leader Rahul Gandhi on Wednesday took a dig at the government over IMF growth projections showing Bangladesh closing in on India in terms of per capita GDP this year and described it as a “solid achievement” of six years of BJP’s “hate-filled cultural nationalism”. Indian economy, severely hit by Covid-19, is projected to contract … Continue reading Rahul criticises govt as IMF slashes GDP forecast

Indian economy, severely hit by the coronavirus pandemic, would be well placed to start recovering from the “horrible crisis” with the govt making efforts on both the fiscal and monetary side in addition to putting in place structural elements, a top IMF official said. The IMF in its annual World Economic Outlook significantly downgrades India’s … Continue reading Indian eco will recover from Covid crisis: IMF official

The global economy is showing signs of bouncing back from the severe downturn caused by the global coronavirus pandemic, but a full recovery is “unlikely” without a vaccine, IMF chief Kristalina Georgieva said. “The recovery remains very fragile and uneven across regions and sectors. To ensure that the recovery continues, it is essential that support … Continue reading Global economic crisis ‘far from over’: IMF chief

India’s concerted efforts to strengthen the business climate and encourage investment in trade have helped attract investment, but the country needs further economic reforms to ensure sustainable and more inclusive growth, according to the IMF. In recent weeks, several international companies have pledged $20 billion FDI in India, and a whopping $40 billion this year … Continue reading India needs more reforms to attract investment: IMF

The International Monetary Fund projected a sharp contraction of 4.5% for the Indian economy in 2020, a “historic low,” citing the unprecedented coronavirus pandemic that has nearly stalled all economic activities, but said the country is expected to bounce back in 2021 with a robust six per cent growth rate.

The IMF will likely forecast a worse contraction in the global economy than previously estimated for 2020 and sees “profound uncertainty” about the path of recovery, IMF chief economist Gita Gopinath said in a new blog. Gopinath said the economic crisis triggered by the novel coronavirus pandemic was more global and playing out differently than … Continue reading IMF sees ‘profound uncertainty’ about global recovery

The economic fallout from the coronavirus pandemic could inflict “significant scarring” worldwide and the outlook for recovery remains highly uncertain, IMF chief economist Gita Gopinath said Friday. The fund in April projected a global economic contraction of 3.0 percent, but Gopinath said the updated forecasts due out June 24 “will be very likely worse.”

Former chief economic adviser (CEA) Arvind Subramanian on Wednesday said the GDP (gross domestic product) numbers being projected by the World Bank and IMF (International Monetary Fund) for India are far “too optimistic” and the country would require additional expenditure of Rs 10 lakh crore to bring the coronavirus-hit economy back on track.

The International Monetary Fund on Tuesday projected a GDP growth of 1.9% for India in 2020, as the global economy hits the worst recession since the 1930s due to the Covid-19 pandemic that has nearly stalled all economic activities across the world. With this subdued forecast, India is likely to record its worst growth performance … Continue reading IMF projects India’s growth rate at 1.9% in 2020

On Friday evening, an IMF release said Rajan, currently a professor at University of Chicago, was one of the 12 members of the eminent group from around the world that “draws on high-level policy, market and private sector experience to provide insights to enhance the Fund’s ability to serve its membership.”