The IMF on Thursday welcomed India’s Union Budget for focussing on growth and said fiscal policy can and should play an important role in facilitating a strong and inclusive economic recovery.
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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.
India has taken very decisive action to deal with the pandemic and its economic consequences, the IMF chief has said, indicating that the agency’s World Economic Outlook update would show a better picture for the country’s economic performance.
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
The number of cyber attacks worldwide has tripled over the last decade and financial services continue to be the most targeted industry, according to International Monetary Fund (IMF).
FY21 GDP to see sharper 10.3% fall: IMF
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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
Finance minister Nirmala Sitharaman said the International Monetary Fund’s (IMF’s) debt restructuring programme should aim at helping the countries overcome the fiscal stress caused by the coronavirus pandemic.
The International Monetary Fund (IMF) on Tuesday projected the Indian economy to contract by 10.3 per cent in the current fiscal amidst the ongoing coronavirus pandemic. However, the IMF noted that India may grow at an impressive rate of 8.8 per cent in 2021 — surpassing China’s projected rate of 8.2 per cent — thereby … Continue reading IMF cuts India’s growth forecast for 2020
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
A tweet put out by the IMF’s chief economist Gita Gopinath confirmed that the Indian economy saw the steepest contraction in the June quarter among G20 countries. China’s economy is shown to have expanded by a robust 12.3% over the March quarter on a non-annualised basis, the UK is the most affected after India, with … Continue reading IMF confirms India’s GDP worst-hit among G20
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.”
India on Thursday said the International Monetary Fund (IMF) should continue to play a critical role in maintaining the stability of the global financial architecture at a time when the whole world is grappling with the coronavirus pandemic.
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented” toll on the region’s service sector and major export destinations, the International Monetary Fund said on Thursday.
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 latest IMF forecast puts India as one of the fastest growing major economies even in the midst of the Covid-19 devastation, although it will be the slowest pace of expansion since the 1991 balance of payments crisis. IMF said China is expected to grow by 1.2% in 2020-21 and rebound to 9.2% next year. … Continue reading India to grow 1.9%, global eco to shrink 3%: IMF
The global economy is expected to shrink by 3% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s, the International Monetary Fund (IMF) said on Tuesday.
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.”
“It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, IMF chief Kristalina Georgieva said in an online press briefing. With the worldwide economic “sudden stop,” she said the estimate “for the overall financial needs of emerging markets is $2.5 trillion” and “we believe … Continue reading IMF chief: ‘Clear we have entered recession’
Policymakers will need to implement substantial targeted fiscal, monetary, and financial market measures to help affected households and businesses, considering that the economic fallout of the coronavirus outbreak reflects acute shocks in specific sectors, IMF chief economist Gita Gopinath said on Monday.
IMF, World Bank to help member nations
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IMF and the World Bank have vowed to help member countries overcome the economic challenges posed by the coronavirus outbreak, while the G7 countries promised to use all appropriate tools to achieve strong sustainable growth and guard against downside risks.