Three dark clouds over the Bretton Woods twins

Synopsis: In light of the latest issues of the pandemic, economic recovery etc., how Bretton Woods can remain relevant. Introduction Time and again, Bretton Woods institutions (IMF and World Bank) have been accused of bias towards the West, more specifically with regard to the USA. Recently, the ‘Fund-Bank’ annual meeting discussed the issues plaguing the… Continue reading Three dark clouds over the Bretton Woods twins

There’s an urgent need to clean up the World Bank and IMF

Synopsis: Wrongdoings of WB and IMF, unsuitability of heads of these institutions, various steps that these institutions need to take to maintain their credibility and legitimacy  Introduction  Head of the World Bank and IMF are selected under the dual monopoly selection procedure wherein only an American can head the World Bank and only a European can head the… Continue reading There’s an urgent need to clean up the World Bank and IMF

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