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Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Can India become $55 trillion economy by 2027? May appear audacious but achievable, says IMF's Krishnamurthy V Subramanian

Mon, Aug 12, 2024

International Monetary Fund (IMF) Executive Director Krishnamurthy V Subramanian said India's private credit to GDP ratio was 58 per cent in 2020, six decades behind the advanced economies which are now at 200 per cent, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'.

IMF's economic view: Brighter outlook for China and India but tepid global growth

IMF's economic view: Brighter outlook for China and India but tepid global growth

Tue, Jul 16, 2024

Overall, the IMF said Tuesday that it still expects the world economy to grow a lackluster 3.2 per cent this year, unchanged from its previous forecast in April and down a tick from 3.3 per cent growth in 2023.

Pakistan reaches new USD 7 billion loan deal with IMF

Pakistan reaches new USD 7 billion loan deal with IMF

Sat, Jul 13, 2024

The International Monetary Fund stated that continued strong financial support from Pakistan's development and bilateral partners would be critical for the programme to achieve its objectives.

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IMF cuts India's FY 23 growth forecast: How it impacts market, stocks, foreign flows, currency? Experts' take

IMF cuts India's FY 23 growth forecast: How it impacts market, stocks, foreign flows, currency? Experts' take

Wed, Apr 20, 2022

The International Monetary Fund (IMF) has slashed India’s economic growth forecast to 8.2% for Financial Year (FY23) from 9% estimated in January, 2022, citing the impact of high oil prices on consumer demand and private investments

IMF cuts India's 2022 growth prospects to 8.2% from 9%; says global economy will suffer significantly from Russia-Ukraine war

IMF cuts India's 2022 growth prospects to 8.2% from 9%; says global economy will suffer significantly from Russia-Ukraine war

Wed, Apr 20, 2022

The International Monetary Fund has further slashed India`s economic growth prospects for 2022 to 8.2 per cent from its earlier projection of 9 per cent, which in itself was lowered from 9.5 per cent.

Explainer-Sri Lanka's reluctance to tap IMF helped push it into an economic abyss

Explainer-Sri Lanka's reluctance to tap IMF helped push it into an economic abyss

Mon, Apr 18, 2022

Sri Lanka`s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines.

Gita Gopinath takes charge as IMF’s first Deputy MD; downgrades global economic outlook for 2022 in her swansong as chief economist

Gita Gopinath takes charge as IMF’s first Deputy MD; downgrades global economic outlook for 2022 in her swansong as chief economist

Wed, Jan 26, 2022

Gita Gopinath takes over as International Monetary Fund’s (IMF) first Deputy Managing Director today as she stepped down for the position of Chief Economist. She will be succeeded by Pierre-Olivier Gourinchas, a French economist

IMF cuts India's economic forecast to 9% for FY22- Here is why

IMF cuts India's economic forecast to 9% for FY22- Here is why

Wed, Jan 26, 2022

The IMF on Tuesday cut India's economic growth forecast by 0.5 percentage points to 9 per cent for the current fiscal year, with its Chief Economist Gita Gopinath saying that the slight downgrade is mainly due to the impact of the spread of the Omicron variant.

IMF chief urges global cooperation to control pandemic, support economic recovery

IMF chief urges global cooperation to control pandemic, support economic recovery

Tue, Dec 07, 2021

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has urged for global cooperation to control the raging Covid-19 pandemic and support the economic recovery as the new Omicron variant has spread to over 40 countries around the world.

Gita Gopinath to take on new role at IMF as First Deputy Managing Director

Gita Gopinath to take on new role at IMF as First Deputy Managing Director

Fri, Dec 03, 2021

Indian-American Gita Gopinath, the chief economist of International Monetary Fund, is being promoted as IMF's First Deputy Managing Director, the fund announced Thursday.

IMF Chief Economist Gita Gopinath to leave job and return to Harvard University

IMF Chief Economist Gita Gopinath to leave job and return to Harvard University

Wed, Oct 20, 2021

IMF's Chief Economist Gita Gopinath will leave her job in January next year and will return to the Harvard University.

IMF revises down Asia economy growth forecast to 6.5%

IMF revises down Asia economy growth forecast to 6.5%

Wed, Oct 20, 2021

The International Monetary Fund (IMF) on Tuesday revised down its 2021 economic growth forecast for Asia to 6.5 per cent, down by 1.1 percentage points from its April projection, according to a newly released regional economic outlook.

IMF warns of divergent recoveries from pandemic

IMF warns of divergent recoveries from pandemic

Fri, Oct 15, 2021

"The global economic recovery continues. But divergences between economies persist, reflecting stark differences in vaccine access and policy support," the IMFC said.

Indian economy to grow at 9.5% this year and 8.5% in 2022: IMF

Indian economy to grow at 9.5% this year and 8.5% in 2022: IMF

Tue, Oct 12, 2021

India's economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund on Tuesday.

IMF approves largest SDR allocation in history

IMF approves largest SDR allocation in history

Tue, Aug 03, 2021

The International Monetary Fund's (IMF) board of governors has approved a new general allocation of Special Drawing Rights (SDR) equivalent to $650 billion, the largest ever in the organisation's history, in an effort to boost global liquidity amid the Covid-19 pandemic

HIGHEST EVER! IMF expected to complete new SDR allocation worth Rs $650 billion by August end

HIGHEST EVER! IMF expected to complete new SDR allocation worth Rs $650 billion by August end

Sat, Jun 26, 2021

The International Monetary Fund (IMF) is expected to complete the process of a new allocation of Special Drawing Rights (SDR) by the end of August, spokesman Gerry Rice said.

Game Changer Krishi Kanoon: IMF praised the agricultural laws

Game Changer Krishi Kanoon: IMF praised the agricultural laws

Fri, Jan 15, 2021

The IMF praised the agricultural laws, saying that the withdrawal of the Middleman would benefit farmers.

IMF official warns coronavirus will weigh on some economies for years

IMF official warns coronavirus will weigh on some economies for years

Fri, Sep 25, 2020

The coronavirus crisis is lasting longer than expected and it will take some countries years to return to growth, the No. 2 official at the International Monetary Fund said on Wednesday

IMF deploys emergency financing for 70 nations amid COVID-19

IMF deploys emergency financing for 70 nations amid COVID-19

Sat, Jun 20, 2020

The International Monetary Fund (IMF) has said it is expected to deploy emergency financing for 70 countries by Friday as the COVID-19 pandemic continues to ripple across the globe.

Cheap crude to be a new normal, oil income-dependent economies will have to diversify: IMF's chief economist Gita Gopinath

Cheap crude to be a new normal, oil income-dependent economies will have to diversify: IMF's chief economist Gita Gopinath

Wed, Apr 22, 2020

As the global oil markets remain under intense pressure, it seems like there is no quick recovery for the global crude prices from the historical fall witnessed recently.

IMF, World Bank urge countries to keep trade open

IMF, World Bank urge countries to keep trade open

Mon, Apr 20, 2020

The International Monetary Fund (IMF) and the World Bank Group (WBG) have called on countries to keep trade open as the world battles the COVID-19 pandemic, warning that export controls on medical supplies and other essentials could backfire

India says IMF liquidity boost may have costly side effects

India says IMF liquidity boost may have costly side effects

Fri, Apr 17, 2020

India`s finance minister said on Thursday the country could not support a general allocation of new Special Drawing Rights by the International Monetary Fund because it might not be effective in easing coronavirus-driven financial pressures

IMF sees coronavirus-induced global downturn 'way worse' than financial crisis

IMF sees coronavirus-induced global downturn 'way worse' than financial crisis

Sat, Apr 04, 2020

The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be "way worse" than the global financial crisis a decade ago, said IMF official.

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