Page 16 - Imf

Ukraine to receive financial assistance of $4.5 bn from IMF amid war

Last month, the IMF approved a four-year Extended Fund Facility program for Ukraine in the amount of $15.6 billion to support the country's stability and economic recovery

PM Modi calls for mass movement in global fight against climate change

Prime Minister Narendra Modi has said that an idea becomes a mass movement when it moves from "discussion tables to dinner tables" as he called for people's participation and collective efforts in combating climate change. He also told a gathering of world leaders via video link on Friday that when people become conscious that simple acts in their daily lives are powerful, there will be a very positive impact on the environment. "People across the world hear a lot about climate change. Many of them feel a lot of anxiety because they do not know what they can do about it. They are constantly made to feel that only governments or global institutions have a role. If they learn that they can also contribute, their anxiety will turn into action," Modi said while addressing the World Bank-organised "Making it Personal: How behavioral change can tackle climate change" conference. Modi hailed the World Bank for organising the event on impact of behavioural change on climate change, saying .

India projected to grow at 7% in 2022-23, says Sitharaman at IMF meet

She highlighted that conducive domestic policy environment along with the Indian government's focus on structural reforms has kept domestic economic activity in India robust

Fed should alter its monetary policy framework: IMF's Gita Gopinath

She said central banks should be more willing to tolerate inflation below target at a time when unemployment is already low

UAE assures Pakistan of $1-billion loan to revive IMF relief deal

Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund

India played key role in IMF's clearance of 48-month EFF to Sri Lanka

India played a crucial role in the International Monetary Fund (IMF's) clearance of a 48-month Extended Fund Facility (EFF) worth USD 2.9 billion to crisis-hit Sri Lanka, reported True Ceylon

Post-pandemic development requirements becoming lot more focussed: FM

Speaking at a press briefing in Washington on Thursday, Union Finance Minister Nirmala Sitharaman said that the third pillar will now have to be sustainable goals and other climate-related objectives, climate funding, and so forth.Underlining how India's presidency has brought attention to the necessity to incorporate these factors while still being compatible with World Bank objectives and not merely balancing on them, Sitharaman said that New Delhi from its presidency very clearly highlighted that it's going to be how a perfect balance is traced the developmental goals and climate finance.Addressing the media queries, Sitharaman also highlighted the post-pandemic development requirements and laid emphasis on how the focus should lie on them, solely."Not just development funding for low-income countries, post-pandemic development requirements becoming lot more focussed. We're also highlighting core 2 things for World Bank - extreme poverty alleviation & bringing prosperity post

Pakistan says UAE assures $1 billion loan to help revive IMF deal

Pakistan is going through one of its biggest economic crisis ever as multiple delays in its loan program created a dollar shortage, import restrictions and reduced forex

Modest downgrade of India's growth due to slow domestic consumption: IMF

India's growth rate has been modestly downgraded from 6.1 per cent to 5.9 per cent for the current fiscal mainly because of the slowness of domestic consumption and data revision, according to a top IMF official. The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year. Krishna Srinivasan, Director of the Asia and Pacific Department, IMF, said the revisions to India's growth have been very modest from 6.1 per cent to 5.9 per cent and probably reflects two factors. "One is that domestic consumption growth is starting to slow, albeit modestly. The other factor is data revisions in 2019 to 2020, which suggests the economic ...

China left out of Sri Lanka debt restructure talks amid angst over delays

Both Sri Lanka and its creditors have said they would like China to participate but people familiar with the talks said they are also eager not to let Beijing hold up negotiations any further

Global economy mired in weak growth, sticky inflation: IMF chief Georgieva

IMF's projection of 2.8% global growth for 2023 "is not enough to bring opportunities to businesses and people around the world, and most worrisome is the projection for weak growth over longer period

International Monetary Fund can help developing nations by helping planet

Tackling the issue requires a long-term vision for sovereign financing to achieve greater stability and resilience in developing economies

Sovereign debtors, creditors agree steps to jumpstart debt restructurings

The meeting came amid ongoing delays in finalizing debt treatment agreements for Zambia, Ghana and Ethiopia under the G20 Common Framework

IMF sees India's combined debt-to-GDP ratio rising for 4 yrs starting FY24

In its latest Fiscal Monitor report, IMF said India's combined debt-to-GDP ratio will rise a tad to 83.2% in FY24 and will hit a high of 83.8% in FY27 before it starts to moderate

Sustained slowdown

Global economic outlook poses challenges

India likely to have stable debt-to-GDP ratio going forward: IMF official

India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax (GST). According to Paolo Mauro, Deputy Director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise in the global public debt-to-GDP ratio in the medium-term. "Our baseline projection is for the global public debt-to-GDP ratio to reach 100 per cent again by 2028. It is going to take a few years, but that seems to be the direction of travel," Mauro told PTI in an interview. In 2020 there were massive interventions on the part of governments around the world to support people and firms. That implied a lot of spending and a big rise in government debts. "We reached the peak at the end of 2020 of a 100 per cent when it comes to the ratio of public debt-to-GDP. In subsequent years there was a recovery and globally at the end of 2022, the .

Top headlines: Vedanta may issue NCDs, IMF cuts FY24 India growth forecast

Business Standard brings you the top headlines at this hour

China will support Sri Lanka's debt rework, says Central bank governor

The IMF on March 20 approved a $3 billion loan for the island nation to help bail it out of the worst economic crisis in decades

IMF cuts FY24 India growth forecast to 5.9% as global banking crisis weighs

Projection of 5.9% is among the lowest; retail inflation expected to ease to 4.9%

UK economy set for smaller hit in 2023 than previously feared: IMF

British gross domestic product will contract by 0.3% in 2023, the IMF said in its latest set of global forecasts, a smaller shrinkage than the 0.6% contraction the Fund predicted in January