India’s economy to contract by 10.3%, says International Monetary Fund

News: International Monetary Fund(IMF) has released the World Economic Outlook Report,2020 titled “A Long and Difficult Ascent”. Facts: The report is published twice a year. Aim: To provide analysis and forecasts of economic developments of member countries and highlights risks and uncertainty. Key Takeaways: Global growth is projected to be -4.4% ( i.e., a contraction… Continue reading India’s economy to contract by 10.3%, says International Monetary Fund

Special Drawing Rights

News: India has opposed the general allocation of new Special Drawing Rights (SDR) by the International Monetary Fund(IMF) because it might not be effective as new SDR allocation provides all 189 members with new foreign exchange reserves with no conditions. Facts: Special Drawing Right(SDR):It is neither a currency nor a claim on the IMF.It is… Continue reading Special Drawing Rights

World Economic Outlook Report:IMF

News:The International Monetary Fund(IMF) has released its World Economic Outlook report. Facts: Report on Global Growth: The report has reduced its global growth projection to 2.9 percent in 2019, 3.3 percent in 2020 and 3.4 percent for 2021. The global growth forecasts has been reduced due to sharper than expected slowdowns in India and other… Continue reading World Economic Outlook Report:IMF

India in the midst of significant slowdown:IMF

News:The International Monetary Fund (IMF) has released its consultations report on India. Facts: Key takeaways from the report: The report has said that India’s rapid economic expansion in recent years has lifted millions of people out of poverty.  However in 2019, a combination of factors led to subdued economic growth in India. India is now… Continue reading India in the midst of significant slowdown:IMF

Effects of global slowdown more pronounced in India: IMF chief

News:The International Monetary Fund(IMF) President has said that the world economy is experiencing a synchronized slowdown and emerging economies such as India and Brazil are the most affected by the slowdown. Facts: The IMF chief said that she expects slower growth in nearly 90% of the world this year. She said that trade tensions had… Continue reading Effects of global slowdown more pronounced in India: IMF chief

IMF report flags several delays in India’s data reporting

According to the International monetary fund(IMF) “Annual Observance Report of the Special Data Dissemination Standard for 2018”,India has failed to comply with multiple requirements prescribed in the Special Data Dissemination Standard (SDDS). The IMF launched the SDDS initiative in 1996 to guide members to enhance data transparency and help financial market participants with adequate information… Continue reading IMF report flags several delays in India’s data reporting

IMF warns against rate cuts, currency intervention to improve trade balance

The International Monetary Fund(IMF) has warned the United States and China that higher bilateral tariffs are unlikely to reduce aggregate trade imbalances as they mainly divert trade to other countries. Instead,they are likely to harm both domestic and global growth by affecting business confidence and investment and disrupting global supply chains. The IMF has also… Continue reading IMF warns against rate cuts, currency intervention to improve trade balance

Currency policing should be done by IMF not US:RBI governor Shaktikanta Das

The Reserve Bank of India governor has said that the International Monetary Fund(IMF) should not allow the U.S to bilaterally label countries as currency manipulators. He questioned the US bi-annual report calling out emerging markets for currency manipulation.He said that such labelling should not be a bilateral prerogative when multilateral institutions like the IMF exist.… Continue reading Currency policing should be done by IMF not US:RBI governor Shaktikanta Das

IMF cuts India’s growth forecast for 2019-20 to 7%

The International Monetary Fund(IMF) has released the World Economic Outlook report.The report has projected a slower growth rate for India in 2019 and 2020.It has projected that Indian economy will grow at 7.0% in 2019 and 7.2% in 2020. The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for… Continue reading IMF cuts India’s growth forecast for 2019-20 to 7%