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.
Reserve Bank of India (RBI) Governor, Shaktikanta Das said that according to International Monetary Fund (IMF) the global economy is expected to plunge into the worst recession since 'The Great Depression'.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the RBI is doing everything to fight the epidemiological challenge that the world is facing. "India's growth rate is expected to be highest among G20 nations, as per IMF estimates," said RBI governor.
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.
The IMF has warned Pakistan that the cash-strapped country's budget deficit is expected to rise to a record 9.2 per cent of the size of national economy or Rs 4 trillion (USD 23.7 billion) in the current fiscal year due to the impact of the coronavirus pandemic.
Hit hard by coronavirus outbreak, Asia is expected to witness zero per cent growth in 2020, its worst growth performance in almost 60 years, but still the world's largest and most populous continent is likely to fare better than other regions in terms of activity, IMF said.
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.
To accommodate this surge, the IMF is deploying total financial capacity of $1 trillion, Georgieva said, emphasising that "we are determined to use as much as necessary in protecting the economy."
International Monetary Fund (IMF) Chief Kristalina Georgieva has said that thanks to the coronavirus, the world is entering a recession that will be worse than that of 2009. While addressing an online press briefing, Georgieva said that with the 'sudden stop' of the global economy, revival will take a massive fund of $2.5 trillion.
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.
Observing that the human costs of the coronavirus pandemic are already immeasurable, the IMF on Monday said the world is headed towards a recession at least as bad as during the global financial crisis or worse.
International Monetary Fund (IMF) has announced a $50 billion aid package to fight coronavirus. IMF Director Kristalina Georgieva, while announcing the package, said that the money is available 'immediately'.
The IMF has said it has reached an agreement with the Pakistani authorities "on policies and reforms" needed to complete the second review of the USD 6 billion loan approved for the cash-strapped country's fragile economy, a media report said on Friday.
The country's foreign exchange reserves swelled by USD 3.091 billion to a lifetime high of USD 476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to the RBI data.
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