Page 6 - International Monetary Fund

Slowdown in West, on balance, would be positive for India: CEA Nageswaran

'Signs are very encouraging' are for the Indian economy, he says in an interview

IMF approves second review of Argentina debt relief deal worth $3.9 bn

Technical staff of the International Monetary Fund approved the second review of the organization's debt relief agreement with Argentina, paving the way for the country to access some $3.9 billion

India to push big for multilateral reforms of WTO, IMF as G20 Chair

Focus will also be on climate justice, green financing

Pakistan, China hail 'all-weather' friendship; IMF aid may create tensions

Pakistan and China hailed their friendship after their leaders met on the sidelines of the SCO summit but analysts warned that IMF's terms could create tension between two countries

Crisis hit-Sri Lanka to brief creditors on IMF deal for economic recovery

The Sri Lankan government will virtually brief all its external creditors on September 23 on the deal agreed with the International Monetary Fund (IMF) for the economic recovery and the next steps in the debt restructuring process. On September 1, the IMF reached a staff-level agreement to support Sri Lanka's economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about USD 2.9 billion. Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves. "Sri Lanka will make an online presentation to external creditors on September 23 updating them on a deal agreed with the International Monetary Fund and recent economic developments," Clifford Chance, the debt restructuring adviser, said in a statement on Saturday. The Sri Lankan Finance Ministry will update creditors on recent macro-economic developments, the objectives of the IMF package, and the next steps in th

Zambia moves away from Chinese investments; receives IMF loan: Reports

Zambia which is known as a country under "debt distress" from China has finally received a $1.3 billion financial loan from the International Monetary Fund, media reports said

Sri Lanka's GDP likely plunged amid debt crisis, political turmoil

Gross domestic product probably fell 10% in the three months to June from a year ago, according to a Bloomberg survey of economists as of Wednesday

IMF looks at ways to help countries affected by global food shock

About 50 nations meet the criteria, with 20 to 30 being in need "immediately," Georgieva said

Lazard in talks with China, India, Japan on restructuring Sri Lanka's debt

The three countries hold about $13 billion of Sri Lanka's debt, while China is Sri Lanka's largest bilateral creditor

Bailout euphoria by IMF signals peak of pessimism in emerging markets

The IMF has been sewing up or inching toward loan agreements with some of the most vulnerable nations -- namely Pakistan, Sri Lanka, Zambia, Egypt and Chile -- after months of negotiations

IMF has to play key role for stability of global monetary system: Murmu

Top IMF official Kristalina Georgieva on Friday called on President Droupadi Murmu who said that the organisation has to play an important role in maintaining the stability of the global monetary system. Welcoming the International Monetary Fund's Managing Director to Rashtrapati Bhavan, the President said the world is passing through the third year of the COVID pandemic, and its ravages have been allayed in part by significant assistance given to many low-income countries by the IMF and the World Bank. According to a Rashtrapati Bhavan statement, Murmu said the IMF has to play an important role in maintaining the stability of the international monetary system. The President said India is one of the fastest growing major economies of the world and India's start-up ecosystem ranks high in the world. "The success of start-ups in our country, especially the growing number of Unicorns, is a shining example of our industrial progress. What is even more gratifying is that the development

Fitch warns of high risk Sri Lanka may default on local currency bonds

Fitch Ratings's 'CCC' rating on long-term local currency debt that was affirmed in May "reflects a high risk that local-currency debt will be included in debt restructuring

Sheikh Hasina likely to seek India's economic support during 4-day visit

Bangladesh's growth story runs into global economic instability, expensive fuel and slowdown in textile orders

'Must provide jobs to those not well-educated to go beyond freebies'

Harvard Business School professor Christian Ketels says it isn't useful to think of manufacturing versus services jobs; a range of sectors need to be mobilised for job creation

Pakistan owes 30% of its foreign debt to China, says IMF report

Pakistan owes 30 per cent of its foreign debt to China, the latest report from the International Monetary Fund (IMF) said, which includes state-owned commercial banks, local media reported

Pakistan inflation hits record 47-year high before full impact of flood

Consumer prices rose 27.26% last month from a year earlier, according to data released by the government Thursday.

As IMF okays Pak revival plan, Sharif says 'is not an end in itself'

As International Monetary Fund (IMF) approved Pakistan's revival plan to stabilize the country's economy, Prime Minister Shahbaz Sharif has said that it "is not an end in itself".Prime Minister's remarks come after IMF executive board approved the revival of Pakistan's Extended Fund Facility (EFF) programme on Monday with which the country will receive the 7th and 8th tranche of USD 1.17 billion.Taking to Twitter, the Prime Minister said that the revival of the IMF programme is a path to the reorientation of the Pakistani economy."Revival of IMF program, though critical to our economy, is not an end in itself. It offers a pathway to reorient our economy. We will have to work hard to make it self-sufficient. Pakistan must break out of the economic straitjacket, which is only possible through structural reforms," he said.Finance Minister Miftah Ismail had tweeted, "Alhamdolillah the IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th ...

Former CEA Krishnamurthy V Subramanian appointed as next India ED at IMF

An order stated that the Appointments Committee of the Cabinet has approved the appointment of Subramanian, who is currently professor (finance) at the Indian School of Business

IMF money to arrive in cash-starved Pakistan by August-end: Report

The IMF convened a meeting of its executive board on August 29 to approve a bailout package for cash-starved Pakistan, including disbursement of about $1.18 billion, a media report said

Top Headlines: FPIs cut stake in BSE firms, pharma eyes $400 bn turnover

The Centre's recent move to impose GST on services rendered by the markets regulator, Securities and Exchange Board of India (Sebi), has rattled FPIs