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  IMF projects contraction of global output in 2020 and recovery in 2021

  Business | March 26, 2020 23:28 IST

  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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  World headed to COVID-19 recession at least as bad as during global economic crisis, warns IMF

  Business | March 24, 2020 9:32 IST

  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. 

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  IMF, Pak govt reach agreement on second review of USD 6 bn bailout package

  World | February 28, 2020 15:08 IST

  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. 

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  Forex reserves rise by USD 3.091 bn to record USD 476.092 bn

  Business | February 22, 2020 17:08 IST

  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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  Reduce trade and commerce reliance on Beijing: IMF to Pakistan

  World | February 14, 2020 9:34 IST

  International Monetary Fund (IMF) mission to Pakistan has asked Islamabad to curb its reliance on China. The IMF has asked the Pakistani government to 'reduce its trade and commerce reliance on Beijing and look for other international options by signing free trade agreements (FTA)'.

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  IMF says India urgently needs ambitious structural, financial sector reforms

  Business | February 14, 2020 6:50 IST

  India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels, says IMF.

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  IMF says Lanka’s economy recovering from Easter Sunday attacks, projects 3.7 pc GDP growth in 2020

  World | February 08, 2020 14:06 IST

  The IMF has said that Sri Lanka’s economy is gradually recovering from Easter Sunday terrorist attacks in 2019 with GDP growth projected at 3.7 per cent in 2020.

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  Prepare for attack by govt on IMF, Gita Gopinath: P Chidambaram on growth forecast

  India | January 21, 2020 12:26 IST

  Senior Congress leader P Chidambaram said he won't be surprised if GDP growth goes even lower after IMF lowered India's economic growth estimate for the current fiscal to 4.8 percent.

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  IMF lowers India's growth estimate to 4.8% for 2019

  Business | January 20, 2020 23:43 IST

  The International Monetary Fund (IMF) on Monday lowered growth estimate for India to 4.8 per cent for 2019, citing stress in the non-bank financial sector and weak rural income growth as the major factors for the downward revision.

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  IMF revises downwards global growth outlook; new projections estimate growth at 3.3% in 2020

  Business | January 20, 2020 19:21 IST

  The International Monetary Fund (IMF) on Monday slightly revised downwards the growth outlook for the global economy and flagged fundamental issues of reform in trade systems.  

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  Pakistan receives $452.4mn second tranche of IMF loan

  World | December 27, 2019 10:34 IST

  The Washington-based lender, after the first review, posed trust on continuity of IMF-backed reforms needed to bring Pakistan's economy on the stability path. But, it cautioned against fiscal slippages with risks to reforms remaining elevated. The growth was projected to further slide to 2.4 per cent in the current fiscal year from 3.3 percent in the last fiscal of 2018/19, The News International reported.

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  India's growth rate didn't match increase in jobs: IMF

  Business | December 24, 2019 7:46 IST

  The International Monetary Fund (IMF) has said that India's high growth rate in recent years did not lead to a matching increase in formal sector jobs and labour market participation has declined. The IMF's report on its annual consultations with India released in Washington on Monday said that while India has lifted millions out of poverty as one of the world's fastest-growing economies, "recent labour market data suggests that unemployment is high while labour force participation has decreased, particularly for females."

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  IMF team reviews Pakistan's performance under Extended Fund Facility

  World | October 28, 2019 17:43 IST

  An IMF mission is in Pakistan to review the cash-strapped country's quarterly performance under its USD 6 billion bailout package, which was finalised this year, according to a media report.

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  IMF team in Pak to review performance

  World | October 28, 2019 14:33 IST

  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.

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  IMF sees Indian economic growth rebounding to 7 pc next fiscal

  Business | October 23, 2019 16:06 IST

  “We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline,” Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.

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  India to spend USD 1.4 trillion on infrastructure: Sitharaman

  Business | October 20, 2019 6:22 IST

  Addressing the annual meeting of the International Monetary Fund (IMF) in Washington, Sitharaman said a task force has been constituted in the finance ministry that will draw up a national infrastructure pipeline for the next five years.  

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  India seeks integration of anti-money laundering with IMF policies

  World | October 19, 2019 23:24 IST

  In an apparent reference to Pakistan, Union Finance Minister Nirmala Sitharaman on Saturday said the integration of the IMF's lending policies with key provisions like anti-money laundering and anti-terror financing can significantly enhance its member nation's compliance on these issues that pose threat to the global economy.

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  IMF says corporate income tax cut will help revive investment in India

  Business | October 19, 2019 8:12 IST

  It, however, said India should address continued fiscal consolidation and secure long-term stability of the fiscal conditions.  

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  India among fastest growing economies: Sitharaman post IMF projections

  Business | October 18, 2019 7:31 IST

  Asked if the government is still on track to maintain the fiscal deficit target to 3.3 per cent of the GDP, Nirmala Sitharaman said: "Fiscal deficit, I am not reviewing it now."

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  India has worked on fundamentals, but problems needs to be addressed

  India | October 17, 2019 23:12 IST

  The International Monetary Fund on Thursday said though India has worked on the fundamentals of its economy, there are problems, including the long-term drivers of growth, that need to be addressed.