Imf
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IMF projects India's growth rate at 1.9% in 2020, forecasts global recession due to COVID-19
India | Apr 14, 2020, 06:31 PM ISTThe 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.
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IMF executive board approves immediate debt relief for 25 countries
Business | Apr 14, 2020, 07:56 AM ISTThe 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.
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IMF projects contraction of global output in 2020 and recovery in 2021
Business | Mar 26, 2020, 11:28 PM ISTThe 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 | Mar 24, 2020, 09:32 AM ISTObserving 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 | Feb 28, 2020, 03:08 PM ISTThe 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 | Feb 22, 2020, 05:08 PM ISTThe 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 | Feb 14, 2020, 09:34 AM ISTInternational 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 | Feb 14, 2020, 06:50 AM ISTIndia 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 | Feb 08, 2020, 02:06 PM ISTThe 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 | Jan 21, 2020, 12:26 PM ISTSenior 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 | Jan 20, 2020, 11:43 PM ISTThe 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 | Jan 20, 2020, 07:21 PM ISTThe 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 | Dec 27, 2019, 10:34 AM ISTThe 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 | Dec 24, 2019, 07:46 AM ISTThe 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 | Oct 28, 2019, 05:43 PM ISTAn 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 | Oct 28, 2019, 02:33 PM ISTThe 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 | Oct 23, 2019, 04:06 PM 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 | Oct 20, 2019, 06:22 AM ISTAddressing 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 | Oct 19, 2019, 11:24 PM ISTIn 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 | Oct 19, 2019, 08:12 AM ISTIt, however, said India should address continued fiscal consolidation and secure long-term stability of the fiscal conditions.