International Monetary Fund

India's growth offers great opportunities to US investors: KV Subramanian

Of the belief that India is headed to be a USD 55 trillion economy by 2047, India's Executive Director at the IMF Dr K V Subramanian on Thursday said India's growth offers phenomenal opportunities to American investors. Subramanian said this during the launch of his latest book India@100: Envisioning Tomorrow's Economic Powerhouse. The opportunities that are available for the American investors actually are phenomenal., I don't think there is any other economy that is actually going to be providing this kind of return over the next 20 to 25 years, he said at the launch event organised by US India Strategic and Partnership Forum (USISPF) here. Investors who have an eye on India have the opportunity to actually not double but triple their money, the top economist said. They have the opportunity to grow their money 15 to 20 times, I think that is something that is important, said Subramanian, who previously was India's Chief Economic Advisor. In his book, Subramanian explores how In

Pak ministries at odds over IMF condition on gas supply cut to industries

Pakistan's finance and energy ministries are at loggerheads over meeting a key IMF condition to reduce gas supplies to industrial power plants by January, highlighting shortcomings in the negotiation of the USD 7 billion agreement. During a recent meeting at the prime minister's house, the Petroleum Division, a part of the energy ministry, claimed that the finance ministry accepted the condition despite its reservations at the time of the programme negotiations, The Express Tribune newspaper reported on Saturday. The division further claimed that abrupt disconnection may cause a Rs 427-billion loss to the government and the industries. However, the finance ministry insisted that the Petroleum Division was fully on board at the time of the negotiations with the International Monetary Fund (IMF) and was now changing its position. The development comes amid the energy ministry's assessment that the complete shifting of industries from gas to electricity would require about two ...

Cross-border challenges widen wealth gap between Europe, US: IMF study

If trade barriers between EU countries were lowered to the level that existed between US states, it would boost European productivity by seven percentage points

Taiwan wants to join IMF in bid to receive financial protection from China

Taiwan, a major economy the size of Poland but absent from global organisations, is making a longshot push to join the International Monetary Fund, the 190-country organisation that offers members emergency loans and other financial assistance. Taiwan's membership at the IMF would help boost financial resilience, the Taipei Economic and Cultural Representative Office in Washington said during this week's IMF and World Bank annual meetings. The office serves as Taiwan's de facto embassy in the US. The push is part of a wider effort to boost the self-governed island's global status. Taiwan also is seeking to participate in the UN World Health Organisation's annual World Health Assembly and join Interpol. The US and its allies are Taiwan's supporters. But China, which sees Taiwan as a breakaway province and threatens to annex it by force, has blocked such efforts and insists it represent Taiwan in international forums. The island is now designated as Taiwan Province of China in IMF ...

IMF chief warns of global risk of slow growth, urges China to push reforms

The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned on Thursday. She also urged Chinese leaders to take more decisive action to jump-start their country's sluggish economy or risk seeing economic growth plummet. These are anxious times,' the fund's managing director, Kristalina Georgieva, told reporters during the fall meetings of the IMF and its sister agency, the World Bank. The IMF forecasts that the global economy will expand this year at what Georgieva called an anemic' 3.2 per cent. Global trade is lackluster at a time of conflict and growing geopolitical tension including frosty relations the world's two largest economies, the United States and China. Trade is no more a powerful engine of growth,' she said. "We live in a more fragmented global economy.' At the same time, many countries are struggling with debts they took on to combat the

India wants to enhance its influence over other countries: FM Sitharaman

While participating in discussion on 'Bretton Woods Institutions at 80: Priorities for Next Decade', FM stated that no country, whether US which is far or China which is very close cannot ignore India

IMF should introspect, ensure they don't have mission drift: Sitharaman

'Expectations pinned on multilateral institutions are being frittered away because no solutions are coming out of them'

India largest growing economy: IMF lists 3 focus areas for growth reforms

IMF Asia Pacific Department Director Krishna Srinivasan suggested that India's reform priorities should be in three areas: Jobs, existing trade barriers, and infrastructure sector

India remains world's largest growing economy with good fundamentals: IMF

India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests. Inflation is expected to decline to 4.4 per cent in FY24-25, despite some volatility as food prices normalize," Krishna Srinivasan, Director for the IMF Asia Pacific Department, told PTI in an interview on Tuesday. In terms of other fundamentals, he said, "despite elections, the fiscal consolidation remains on track. Reserve position is pretty good. Macro fundamentals, generally speaking, for India are good". He suggested that the country's reform priorities post-elections need to be in three areas. "One is, there's an issue about creating jobs in India and so on. In that context, I think implementing the .

Pakistan's FM Aurangzeb sees 'encouraging' reply from China debt talks

Pakistan is seeing a period of stability after securing a new $7 billion loan program from the IMF

Global fight against high inflation is 'almost won': IMF chief economist

The global war against inflation has largely been won and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year and to 4.3% in 2025. It estimates that inflation will fall even faster in the world's wealthy countries, from 4.6% last year to 2.6% this year and 2% the target range for most major central banks in 2025. The slowdown in inflation, after years of crushing price increases in the aftermath of the pandemic, led the Federal Reserve and the European Central Bank to cut interest rates this year after they had aggressively raised them to try to tame inflation. The battle against inflation is almost won,? Pierre-Olivier Gourinchas, the IMF's chief economist, told reporters Tuesday. In most countries, inflation is hovering close to central bank targets.? Inflation had accelerated when the world ...

IMF, WB meetings clouded by wars, slow economic growth, US election

The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups

IMF urges Pakistan to invest Rs 1.2 trillion a year for climate resilience

The International Monetary Fund (IMF) has urged Pakistan to invest one per cent of its GDP annually equivalent to over Rs 1.24 trillion based on current estimates in climate resilience and adaptation reforms to prepare for recurring extreme weather events, particularly floods, a media report said on Thursday. In a special policy advisory, the IMF noted that ongoing reforms under the Extended Fund Facility (EFF) including fiscal, labour market, trade, and state-owned enterprise (SOE) reforms could boost Pakistan's growth by 2 per cent over five years while significantly reducing inequality, Dawn newspaper reported. The Fund also highlighted that proactive investment in climate-adaptive infrastructure could reduce the negative growth impact of a natural disaster shock by one-third while ensuring a quicker and more complete recovery. The lender noted that about 1 per cent of GDP investment in adaptation infrastructure would increase Pakistan's climate resilience and buffer climate

IMF's new demand set to dissuade Chinese investments into Pakistan

The IMF's condition comes as Prime Minster Shehbaz Sharif is trying to convince Chinese companies to shift more industries into Pakistan thereby giving a fresh momentum to projects

Committed to IMF's bailout package, hope to discuss terms: Sri Lanka govt

The new Sri Lankan government during its first meeting with the International Monetary Fund said it is committed to the global lender's USD 2.9 billion bailout package clinched by the previous Wickremesinghe regime and hoped to renegotiate certain conditions. The meeting between the IMF team and the Sri Lankan government on Wednesday came two weeks after President Anura Kumara Dissanayake of the National People's Power (NPP) was elected two weeks ago. The government team was represented by its economic council members headed by Prof A J Fernando, who was named as President Dissanayake's economic and finance advisor only two days ago. On September 23, Dissanayake, the leader of the Marxist Janatha Vimukthi Peramuna party's broader front, the NPP, was sworn in as Sri Lanka's ninth president, amid hopes that he will bolster the country's economy and eliminate corruption. The primary objective of the visit was to initiate discussions on the progress of the IMF Programme and necessary .

Sri Lanka's new president faces uphill battle to revive debt-ridden economy

Sri Lanka's new president faces uphill battle to revive debt-ridden economy

IMF 'too polite' on China policies, assurances: US Treasury official

IMF last week approved a $7 billion program for Pakistan that included financing assurances from China, Saudi Arabia and the United Arab Emirates, but declined to provide details on the assurances

IMF team to hold talks with Sri Lanka govt on loans for economic recovery

A high-level team of the International Monetary Fund will arrive in Sri Lanka on Wednesday to meet the new government headed by President Anura Kumara Dissanayake and discuss the latest economic reforms supported by the global lender. On September 24, the IMF said that they would begin talks with the new Lanka government led by President Dissanayake. The global lender said it will discuss the timing of the third review of its ongoing economic reform under a 48-month loan. Former president Ranil Wickremesinghe-led government was negotiating with the IMF for the release of the fourth tranche of the USD 2.9 billion facility. A high-level team led by Krishna Srinivasan, Director for the Asia Pacific Department will be visiting Colombo October 2-4 to meet with President Dissanayake and the new economic team to discuss the latest economic developments and economic reforms under Sri Lankas economic programme supported by the IMF," a release said. This will be the National People's Power .

IMF approves $7bn bailout for Pak, tranche of $1.1bn expected this month

The International Monetary Fund's board (IMF) on Wednesday approved a USD 7 billion Extended Fund Facility (EFF) for cash-strapped Pakistan, providing a critical boost to the country's struggling economy. The development was announced by the Prime Minister's Office (PMO) while a statement is expected from the IMF. The PMO said the premier expressed his satisfaction with the programme's approval. "The implementation of economic reforms is going on rapidly, he said, adding that the government would continue to work hard to achieve goals related to economic development after achieving economic stability. The prime minister said the increase in business activities and investment in the country was welcome and a testament to the hard work of the economic team, Dawn newspaper reported. Along with the successes on the diplomatic front, the increase in remittances from Pakistanis living abroad is a reflection of their confidence in the government's policies, he said, adding that the ...

IMF surcharge burden on distressed countries calls for urgent reform

Surcharges neither ensure repayment nor protect IMF finances. Their main effect is to increase the burden of debt payments precisely when countries can least afford it