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Tag: international monetary fund

IMF raises India’s GDP growth forecast by 30 bps to 6.8% for FY25 | Economy & Policy News
16Apr By adminNo Comments
Business

IMF raises India’s GDP growth forecast by 30 bps to 6.8% for FY25 | Economy & Policy News

4 min read Last Updated : Apr 16 2024 | 11:34 PM IST The International Monetary Fund (IMF) on Tuesday raised India’s GDP growth projection for 2024-25 by 30 basis points to 6.8 per cent in its update to the World Economic Outlook (WEO), citing buoyant domestic demand. However, the fund’s estimate is below the 7 per cent growth projection by the government. “Growth in India is projected to remain strong at 6.8 per cent in 2024 (FY25) and 6.5 per cent in 2025 (FY26), with the robustness reflecting continuing strength in domestic demand and a rising working-age population,” the IMF said in its report. For India, according to the report, data and forecasts are presented on a financial year basis. For FY24, the IMF raised India’s GDP growth projection to 7.8 per cent, comp...
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War of Words! Now, former CEA Krishnamurthy Subramanian says IMF GDP forecasts for India ‘consistently INACCURATE’
6Apr By adminNo Comments
Business

War of Words! Now, former CEA Krishnamurthy Subramanian says IMF GDP forecasts for India ‘consistently INACCURATE’

War of Words! Krishnamurthy Subramanian, the Executive Director at the International Monetary Fund has said that the IMF’s GDP growth forecasts for India have been consistently ‘INACCURATE’. In contrast, he claimed that his predictions of India’s GDP growth have been accurate. The issue stems from IMF spokesperson Julie Kozack recently stating that Krishnamurthy Subramanian’s 8% GDP growth forecast for the Indian economy does not represent that of the International Monetary Fund. Krishnamurthy Subramanian has previously served as a Chief Economic Advisor for the government of India.IMF had clarified that the recent growth projections made by Krishnamurthy Subramanian, the Executive Director representing India at the IMF, do not reflect the official views of the organization. In response t...
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Debt: Africa hears pledges but little action at IMF-World Bank talks
14Oct By adminNo Comments
Business

Debt: Africa hears pledges but little action at IMF-World Bank talks

MARRAKESH: Pummelled by debt, poverty and natural disasters, African nations heard many pledges of support but saw little action at the first IMF-World Bank talks to be held on their soil since 1973.The myriad troubles facing the continent were front and centre at the week-long talks in Marrakesh, Morocco, which began Monday and end Sunday.The managing director of the International Monetary Fund, Kristalina Georgieva, said from day one that holding the meetings in Africa was "symbolically and substantively very important.""A prosperous world economy in the 21st century requires a prosperous Africa," she said.The IMF was moving towards giving sub-Saharan Africa a third seat on its executive board.The move, which will be effective next year, does not increase Africa's voting power within th...
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Russia Pushing to Join African Anti-Dirty Money Body as Observer
19Sep By adminNo Comments
Money

Russia Pushing to Join African Anti-Dirty Money Body as Observer

Russia is lobbying nations in eastern and southern Africa in an attempt to join a regional anti-money laundering group as an observer.The Kremlin wants to obtain observer status at the Eastern and Southern Africa Anti-Money Laundering Group by this fall, according to people familiar with the matter and documents seen by Bloomberg. It aims to gather information and influence international decision-making before a renewed push by Ukraine and its allies to further isolate Russia from the global financial system.
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Cryptocurrencies: No big crypto call for now, India to talk on regulation
11Sep By adminNo Comments
Business

Cryptocurrencies: No big crypto call for now, India to talk on regulation

NEW DELHI: The government does not appear to be in a hurry to decide on the way forward for cryptocurrency assets. A senior official said on Sunday that India will hold extensive consultation with other countries before coming to any decision.While a joint paper prepared by the International Monetary Fund and the Financial Stability Board had suggested that a ban won't work, it had proposed a detailed roadmap for regulating cryptocurrency.But regulation may also mean that crypto issuers and exchanges will have to rework the model that they have operated in. For instance, the officer said a structure like the stock markets may have to be adopted to split the activities of a crypto exchange and align them with how a stock market works with a clearing house, depositories and other intermedia...
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