Bhalla's appointment comes at a time when India is facing an economic slowdown and the government is struggling hard to revive it
His appointment has been cleared by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi
According to reports, Pakistan is likely to miss the IMF's condition to refund Rs 75 billion to taxpayers in the first quarter despite an incentive by the global lender
The economic growth slowed to a seven-year low to 5% in April to June quarter from 8% a year ago
In recent days, the long-time World Bank economist has pressed the flesh in world capitals to advance her candidacy
The deficit increased to 8.9 per cent of the nation's gross domestic product in the year ended June compared with 6.6 per cent a year earlier.
IMF exuded confidence that the reforms being carried out in India in the last few years would end up creating new jobs in the country
The International Monetary Fund trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are imposed
The IMF projected the growth rate at 7% for FY20, while the World Bank saw it at 7.5%
A second round of voting is now underway to choose between Dijsselbloem and Georgieva
More monetary accommodation can lead to higher risks
Das' statement comes in the wake of the US treasury department's recent currency report to the Congress
The IMF needs a managing director of the highest caliber, chosen through an open competition not evidently tainted by national politics
While the US trade war with China has cooled with a recent truce and renewed talks, the world's second-largest economy has slowed amid President Donald Trump's tariffs
Further, the IMF has suggested for gradual liberalisation of portfolio investments, while monitoring risks of portfolio flow reversals
Saturday's strike is happening in shopping malls and wholesale commodity markets, small shops and electronics stores
Cash-strapped Pakistan, which currently has a currency reserve of less than $8 billion, approached the Washington-based IMF in August 2018 for a bailout package
"We have full confidence in First Deputy Managing Director David Lipton as Acting Managing Director of the IMF" the board said
Lagarde's name is one of the key pieces in the latest slate of candidates for the EU's top jobs which leaders, lawmakers and parties have been wrangling over since Sunday
Prime Minister Imran Khan's adminsitration reached an accord for a bailout package with the IMF in May, in which it committed to curtail energy-sector losses