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PM Modi's 'Aatmanirbhar Bharat' important initiative: International Monetary Fund
"The economic package under this self-reliant India initiative, which was announced in the aftermath of the coronavirus shock, has supported the Indian economy and mitigated significant downside risks, so we do see that initiative as having been important," Gerry Rice, Director, Communications Department, IMF, told reporters at his fortnightly news conference here.
IMF says global economic outlook better than June prediction
"The recent incoming data suggests that the outlook may be somewhat less dire th...
Forex reserves up by $3.378 bn to record $545.038 bn
During the reporting week, the forex kitty rose mainly due to an increase in foreign cur...
Forex reserves down by $353 mn to $541.66 bn: RBI data
During the reporting week, the fall in reserves was due to a decline in foreign currency assets (FCAs), a major component of the overall reserves. FCAs decreased by USD 841 million to USD 497.521 billion in the reporting week, the data showed.
IMF says coronavirus crisis "far from over," more support needed
The International Monetary Fund on Wednesday warned that the coronavirus crisis was "far from over" and underscored the need for multilateral cooperation to ensure adequate supplies once a vaccine is developed.
Forex reserves climb $3.883 bn to record $541.431 bn
In the reporting week, the forex kitty rose mainly on the back of a jump in foreign currency assets (FCAs), a major component of the overall reserves.
Forex reserves surge by $2.296 bn to $537.548 bn
In the reporting week, the increase in reserves was mainly due to a jump in foreign currency assets (FCAs), a major component of the overall reserves.
The Middle East will lose out on $270 billion worth of oil income amid virus, recession
The international lender expects an overall economic contraction of 7.3% in Mideast oil exporting countries this year due to hits from the coronavirus outbreak and oil market turmoil. The contraction is 2% greater than the IMF's initial projections in mid-April.
Global public debt, fiscal deficits to reach all-time high, IMF warns
Some, emerging market economies may face a costly debt rollover if financial conditions tighten again, like they did in March, the IMF official warned. And the most vulnerable low-income developing economies, many of which were already facing a high risk of debt distress prior to the crisis, will need sustained support from the international community.
Forex reserves down by $2.94 bn to $535.25 bn
The foreign exchange kitty had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had swelled by $8.223 billion to stand at $501.703 billion.
Saudi Arabia defers to renew pact to supply oil to Pakistan on deferred payments
An agreement between Pakistan and Saudi Arabia for provision of $3.2 billion worth of oil on deferred payments per annum has expired two months ago and decision about its renewal remains pending with Riyadh, according to leading Pak daily The Express Tribune.
Forex reserves climb $3.62 bn to record $538.191 bn
The reserves had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had jumped by USD 8.223 billion to USD 501.703 billion.
Saudi oil exports down by $12 billion year on year in April
Compared to March, total exports - including non-oil exports of goods such as chemicals and plastics - decreased by 23.5 per cent, or about $3 billion, the General Authority for Statistics said. Amid a drop in demand and oil prices, in the first quarter the value of Saudi Arabia's oil exports plunged by 21.9 per cent year on year to $40 billion.
Coronavirus pandemic pushed 37 million into extreme poverty: Gates Foundation
Citing a projection by the International Monetary Fund (IMF), the report said the global economy will lose USD 12 trillion or more by the end of 2021 despite spending of USD 18 trillion in trying to stimulate growth around the world.
Forex reserves climb $11.9 bn to all-time high of $534.5 bn
While announcing the monetary policy on Thursday, Reserve Bank of India Governor Shaktikanta Das said the reserves at USD 534.6 billion are equivalent to 13.4 months of imports