Indian-American Gita Gopinath joins IMF as its first female chief economist
Business | January 08, 2019 14:31 ISTAnother important concern, she said, is the health of emerging markets as the US continues to normalize its interest rates.
Another important concern, she said, is the health of emerging markets as the US continues to normalize its interest rates.
The United States is also trying to ensure that Pakistan changes its economic programme so that it's not a failure in the future.
Pakistani Rupee suffered a massive hit on Friday as the dollar rose to all time high at Rs 144, a day after the government celebrated its 100-day achievements.
The International Monetary Fund mission is in Pakistan and holding talks with officials over arranging an unspecified amount to help in addressing the balance of payment issue.
Chinese foreign ministry spokesman Lu Kang said that China wants an "objective and professional" evaluation of its loans to Pakistan by the IMF.
Pakistan began exploring the possibility of yet another loan package with the IMF while the Pakistan Muslim League (Nawaz) PML-N was still in power and the exploratory talks continued under the interim government as well.
"Several factors are responsible for the recent fall in the Chinese Yuan, or renminbi (RMB), including economic issues in China", Mnuchin told Financial Times ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20.
In its latest fiscal stability report, the IMF said that despite an undeniable progress towards a safer global financial system in a decade since the economic crisis, clouds still appear over the horizon.
The global financial institution urged the world leadership to endow women with requisite skills, close gender gap in leadership positions, bridge the digital divide and ease transition for workers.
The IMF pointed out that the growth reflected a rebound from transitory shocks including the currency exchange initiative and implementation of GST.
Lagarde warned that if current trade disputes escalate "further, they could deliver a shock to a broader range of emerging and developing economies."
Gita, 46, will succeed Maurice (Maury) Obstfeld, who announced in July that he would retire at the end of 2018.
The fund is due to release its latest World Economic Outlook on October 9, which will provide revised growth estimates that will incorporate the impact of the trade conflict so far.
“The depreciation will obviously raise the prices of imported goods such as oil and petroleum products, potentially putting an upward pressure on inflation,” said IMF spokesperson.
Taking to both Twitter and Facebook, Jaitley summarised the latest report released by the IMF.
Benchmarks rallied to fresh lifetime highs on Wednesday on persistent investor appetite for market heavyweight RIL, while the broader buying momentum got a fillip after IMF underlined India's role as a source of global growth
The Trump administration on Tuesday cautioned the International Monetary Fund (IMF) against a possible bailout of Pakistan
With GDP of USD 19,390,604 million, United States has topped the list, followed by China with USD 12,237,700 million.
However, it added a note of caution: "In India, given increased inflation pressure, monetary policy should maintain a tightening bias."
David Lipton, the International Monetary Fund’s First Deputy Managing Director, also expressed hope that India’s growth will be reflected in poverty reduction statistics and eventually in a measurement of metrics of inclusion.
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