Forex reserves up by $169 mn to $583.865 bn
In the previous week ended February 12, the reserves had declined by $249 million to $583.697 billion. It had touched a record high of $590.185 billion in the week ended January 29 this year.
India's GDP may turn positive at 1.3 per cent in December quarter: Report
Projecting that the gross domestic product (GDP) may have returned to the black in the last quarter of the calendar year 2020, DBS Bank in the report said the full-year growth in real terms may be at a negative 6.8 per cent.
Forex reserves down by $249 mn to $583.697 bn
In the previous week, the reserves had declined by $6.24 billion to stand at $583.945 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021.
IMF, Pakistan reach agreement on reforms to release around $500 million
The package strikes an appropriate balance between supporting the economy, ensuring debt sustainability and advancing structural reform, the fund said in a statement.
Forex reserves jump $4.85 bn to record $590.18 bn
In the reporting week ended January 29, the reserves rose on account of an increase in foreign currency assets, a major component of the overall reserves.
IMF welcomes India's focus on growth in Union Budget
"We welcome the Indian government budget's focus on growth. Fiscal policy can and should play an important role in facilitating a strong and inclusive economic recovery," IMF said.
Days before coup, IMF sent Myanmar $350 million in emergency aid it cannot get back
There appears to be little the IMF can do to claw back the funds, part of rapid-disbursing COVID-19 financing programs with almost no conditions and approved by the IMF board on Jan. 13, sources familiar with the payments and international finance experts said.
Supportive monetary and fiscal policies needed until pandemic is in check: IMF
Observing that the economies have been very negatively impacted by the coronavirus pandemic, Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund, said that in 2020 a vast majority of countries had sharp contractions in economic activities.
India's 11.5% projected growth in FY22 will be largely mechanical: Gita Gopinath
Days ahead of the Budget, Gopinath suggested that India continue its direct cash support schemes to the poor in 2021, including the expanded employment guarantee scheme, while prioritising public infrastructure spending.
Global public debt likely to touch 98 pc of GDP in 2020 amid COVID crisis: IMF
The COVID-19 pandemic has posed a severe challenge to public finances, the report said noting that the contraction in output and ensuing fall in revenues, along with emergency lifelines, boosted government deficits and debts beyond levels recorded during the global financial crisis.
Inequitable distribution of coronavirus vaccines risks exacerbating financial vulnerabilities: IMF
In its Global Financial Stability update released on Wednesday, the International Monetary Fund underlined that until the coronavirus vaccines are widely available, the market rally and the economic recovery remain predicated on continued monetary and fiscal policy support.
'Complacency' permeating markets on continued monetary support -IMF
The rollout of COVID-19 vaccines has boosted expectations of a global recovery and helped prompt a surge in asset prices, despite rising infections and persistent uncertainties surrounding the economic outlook, the world's largest multilateral lender said in its Global Financial Stability Report.
IMF: Vaccines will power 5.5% global economic growth in 2021
In an update to its World Economic Outlook, the IMF said that it expects the U.S. economy -- the world's biggest -- to expand 5.1% this year after collapsing 3.4% in 2020. No. 2 China is expected to record 8.1% growth after eking out a 2.3% increase in 2020.
IMF lifts global growth forecast for 2021, still sees 'exceptional uncertainty'
IMF warned that the world economy continued to face “exceptional uncertainty” and new waves of COVID-19 infections and variants posed risks,.
Indian economy is gradually recovering: IMF
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. "India has indeed been severely affected by the pandemic but is gradually recovering," IMF chief spokesperson Gerry Rice said.