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.
The successful completion of the first review would enable Islamabad to draw about $453 million from the Fund in first part of December, taking the total amount to almost $1.44 billion. The IMF had made in July this year an upfront disbursement of $991 million on completion of all prior actions committed by Pakistan before signing the fund programme, Dawn news reported on Monday.
The International Monetary Fund (IMF) in July projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its Gross Domestic Product (GDP) will now grow respectively at the rate of 7 per cent and 7.2 per cent, reflecting a weaker-than-expected outlook for domestic demand.
The IMF on Tuesday projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its GDP will now grow respectively at the rate of 7 and 7.2 per cent reflecting a weaker-than-expected outlook for domestic demand.
Pakistan will on Tuesday receive the $1 billion instalments from the International Monetary Fund's (IMF) under the recently concluded $6 billion bailout package.
Pakistan last month reached an agreement with the Washington-headquartered International Monetary Fund (IMF) for a USD 6 billion bailout package aimed at shoring up its finances and strengthening a slowing economy as tries to overcome a ballooning balance-of-payments crisis.
The USD 60 billion CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is the flagship project of the multi-million dollar Border and Road Initiative (BRI) launched by Chinese President Xi Jinping when he came to power in 2013.
The agreement now awaits a formal approval by the International Monetary Fund (IMF) board, Dawn news quoted Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh as saying.
Rouhani's comments on Saturday came amid rising tensions with Washington which last week deployed warships and warplanes to the Gulf. He said the renewed US sanctions had led to worse economic conditions than during the country's 1980-88 war with neighbouring Iraq.
The United States is also trying to ensure that Pakistan changes its economic programme so that it's not a failure in the future.
In the annual IMF and World Bank meeting in Bali, Indonesia, the World Economic Outlook projects that global growth will remain steady over 2018–19 at last year's rate of 3.7 per cent.
“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.
Growth is forecast to rise to 7.3 per cent in fiscal year 2018/19 and 7.5 per cent in 2019/20 on strengthening investment and robust private consumption, the report said.
The Trump administration on Tuesday cautioned the International Monetary Fund (IMF) against a possible bailout of Pakistan
India's growth accelerated to 7.7 per cent in the fourth quarter of Financial Year (FY) 2017-18.
Do global institutions such as the World Bank and the IMF need to be reformed? Will China's growing influence in Asia affect the existing international order?
The IMF statement came as the latest figures showed that India grew at 6.3 per cent in the September quarter compared to 5.7 per cent in the June quarter, reflecting an improvement in the Indian economy.
New Delhi: Warning corporates not to take unfair advantage of the liberalised tax environment, Finance Minister Arun Jaitley on Friday said the world is moving towards a more transparent regime that would remove the veil
Washington: Asserting that India is prepared to play its part in combating the danger posed by climate change, Finance Minister Arun Jaitley has said the global community needs to develop greener technologies "on a war
Washington: India has expressed deep disappointment over the non-implementation of IMF quota and governance reforms that would give it a greater say in the global crisis lender, matching the country's growing economic might."We are greatly
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