IMF said it was deeply concerned with economic conditions in Afghanistan, urging the international community to take urgent steps to stall a "looming humanitarian crisis" in the country.
At the start of the pandemic, food supply chain disruptions, a shift from food services (such as dining out) towards retail grocery and consumer stockpiling (coupled with sharp appreciation of US dollar) pushed up consumer food price indices in many countries.
"Gradually increasing price on carbon encourages innovation and transition to renewable energy, clean mobility, and low carbon technologies," IMF MD said in prepared remarks at an event hosted by the Brookings Institution.
The International Monetary Fund has proposed a USD 50 billion global vaccination plan that would cover at least 40 percent of the global population by the end of 2021 and at least 60 percent by the first half of 2022.
India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF official.
Inflation and depleted incomes have raised household indebtedness and food insecurity, it said, urging the IMF and the World Bank to scale up its work to address rising levels of food insecurity and to support countries in achieving Sustainable Development Goal 2 and nutrition for all.
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.
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.
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.
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