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 the double-digit growth this year amidst the catastrophic coronavirus pandemic.
There are multiple areas where the reforms are needed, including infrastructure, the Chief Economist of the Washington-based global financial institution said on Tuesday.
The 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.
There is, however, a need to strengthen the social safety net for those who might be adversely affected by the transition to the new system, Gerry Rice, Director of Communications at IMF, said at a news conference in Washington on Thursday.
India's priorities should be to protect the most vulnerable people, well targeted support and protecting small and medium sized enterprises so that they do not collapse as the country battles the COVID-19 pandemic, Managing Director of the International Monetary Fund Kristalina Georgieva has said.
The International Monetary Fund in its annual World Economic Outlook significantly downgrades India's growth for the fiscal year 2020 to minus 10.3 pe
Gandhi also shared a graph citing its source as the International Monetary Fund's World Economic Outlook report which showed Bangladesh closing in on India and almost catching up with it in terms of per capita GDP this year. "Solid achievement of 6 years of BJP's hate-filled cultural nationalism: Bangladesh set to overtake India," Gandhi said in a sarcastic tweet accompanied by clapping emojis.
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday.
The cash-strapped economy of Pakistan is going to take another restricting hit, this time by the International Monetary Fund (IMF) as it looks towards furthering the constraints on short-term borrowings for filling the budgetary gap which has arisen from the forecast that Pakistan's gross financing needs would be up to 1.5 per cent higher than its gross domestic product in comparison to the previous estimates.
The remarks by the International Monetary Fund’s Chief Spokesperson Gerry Rice came in response to a question on the recent FDI announcements made by companies like Facebook and Google in India.
The International Monetary Fund (IMF) has urged Pakistan to freeze salaries of government employees and adhere to the fiscal consolidation path by showing a nominal primary deficit in the new budget, said Finance Ministry sources.
International Monetary Fund (IMF) has lauded Prime Minister Narendra Modi-led government's response to the ongoing coronavirus pandemic by calling it a 'strong' response by the authorities to the crisis. IMF Communications Director Gerry Rice, in a press conference, has said that the financial response in India provides much-needed support to various sectors.
The IMF on Wednesday approved a disbursement to Nepal of about USD 214 million to help the Himalayan nation cover the urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic.
Countries have taken fiscal measures and central banks together injected a total of whopping USD 14 trillion as part of their efforts to mitigate the challenges posed by the novel coronavirus pandemic, the International Monetary Fund has said.
The State Bank of Pakistan has adopted a timely set of measures, including a lowering of the policy rate and new refinancing facilities, to support liquidity and credit conditions and safeguard financial stability.
Describing the COVID-19 pandemic as a crisis like no other, International Monetary Fund head Kristalina Georgieva on Wednesday said the international body is proposing to use all its USD1 trillion lending capacity to support countries battling the outbreak.
The International Monetary Fund Wednesday said that it supports India's proactive decision of a imposing a nationwide lockdown in its fight against coronavirus. A day earlier, the IMF in its World Economic Outlook had forecast India's growth rate to be 1.9 per cent in 2020.
The IMF on Tuesday projected a GDP growth of 1.9 per cent for India in 2020, as the global economy hits the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic that has nearly stalled all economic activities across the world.
The International Monetary Fund (IMF) Executive Board has approved immediate debt service relief for 25 member countries as part of its response to help address the impact of the COVID-19 pandemic.
The International Monetary Fund on Thursday projected a contraction of global output in 2020 and recovery in 2021 as it asked the leaders of the G-20 countries to back a doubling of its USD 50 billion emergency financing capacity in the wake of the coronavirus pandemic.
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