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RBI`s gold purchases up 5-fold at 77 tonnes in January-October  The Reserve Bank of India (RBI) bought 27 tonnes of gold during October taking its total purchases of the precious metal to 77 tonnes from January to October, according to a WGC report based on data compiled by the International Monetary Fund (IMF).  The RBI’s gold purchases in the first 10 months of 2024 represent a five-fold increase over the quantity of the precious metal bought in the same period of 2023, WGC said. According to the data, the RBI’s total gold r...
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
Source: IANS
2024-12-07 08:59:08 am
Strong investment, private consumption driving India`s growth: UNCTAD Indian economy is expected to record a growth of 6.8 per cent in 2024 and will clock an expansion of 6.3 per cent next year.  This comes on the back of continued strong public and private investment and consumption as well as rising exports of services, according to the latest UNCTAD (UN Trade and Development) report. Despite the increased exports of services and certain goods, such as chemicals and pharmaceuticals, the structural current account deficit in India will persist, owin...
Strong investment, private consumption driving India`s growth: UNCTAD
Strong investment, private consumption driving India`s growth: UNCTAD
Source: IANS
2024-11-03 01:47:54 pm
IMF sees India driving growth in Asia-Pacific region India remains the world’s fastest-growing economy with investment and private consumption driving growth, according to the IMF’s latest Regional Economic Outlook for Asia-Pacific. The IMF, in its World Economic Outlook report released on October 2, had retained India’s gross domestic product (GDP) growth forecasts at a robust 7 per cent and 6.5 per cent for FY25 and FY26, respectively. While growth in Asia is expected to slow down in 2024 and 2025 — reflecting fa...
IMF sees India driving growth in Asia-Pacific region
IMF sees India driving growth in Asia-Pacific region
Source: IANS
2024-11-02 02:18:42 pm
IMF approves reviews for Kenya to receive 606 million USD The International Monetary Fund (IMF) said its executive board has approved the seventh and eighth reviews of Kenya's program, allowing the East African nation to receive 606 million US dollars. The funds will support Kenya's efforts to rebuild fiscal and external buffers as well as enhance resilience to climate shocks, the IMF said in a statement issued Wednesday evening. The loan facility, which will be disbursed immediately, would bring the IMF's total funding under the e...
IMF approves reviews for Kenya to receive 606 million USD
IMF approves reviews for Kenya to receive 606 million USD
Source: IANS
2024-10-31 06:00:23 pm
India’s foreign exchange reserves at $688 bn as gold reserves rise Amid persistent foreign institutional investors (FII) selling and growing geopolitical tensions, India's foreign exchange (forex) reserves saw a $2.163 billion drop to stand at $688.267 billion in the week ended October 18, data from the Reserve Bank of India (RBI) showed on Friday.  Meanwhile, gold reserves increased by $1.786 billion to $67.444 billion during the week, according to the central bank. There has been a surge in gold buying amid geo-political tensions. According ...
India’s foreign exchange reserves at $688 bn as gold reserves rise
India’s foreign exchange reserves at $688 bn as gold reserves rise
Source: IANS
2024-10-26 08:47:55 am
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman Union Finance Minister Nirmala Sitharaman has said that India wants to enhance its influence in the world as one in every six persons is Indian and the world cannot ignore India's economy. Union Minister Sitharaman said that no country, whether the US which is far away or China which is very close cannot ignore India. While participating in a panel discussion on the 'Bretton Woods Institutions at 80: Priorities for the Next Decade', organised by the Centre for Global Develop...
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
No country in the world, whether US or China, can ignore India: FM Nirmala Sitharaman
Source: IANS
2024-10-24 09:27:31 am
Economists hail India`s robust GDP growth projections by global financial institutions Top economists on Wednesday hailed India's GDP projections from global financial institutions like the International Monetary Fund (IMF) and Deloitte, saying the surge in rural consumption was primarily driving the country's GDP growth story.  The International Monetary Fund (IMF) maintained its India growth rate projection at 7 per cent in the current fiscal year. According to Deloitte, India's annual GDP growth was projected to be between 7 and 7.2 per cent in FY 2024-20...
Economists hail India`s robust GDP growth projections by global financial institutions
Economists hail India`s robust GDP growth projections by global financial institutions
Source: IANS
2024-10-23 11:50:55 am
Foreign exchange reserves drop $10.7 billion to $690.43 billion  Amid growing geopolitical tensions and FII selling, India's foreign exchange (forex) reserves dropped $10.746 billion to $690.43 billion for the week ended October 11, data from the Reserve Bank of India (RBI) showed on Friday.  The forex had hit an all-time high of $704.885 billion at the end of September.  In the previous reporting week, the forex had dropped by $3.709 billion to $701.176 billion.  Meanwhile, gold reserves decreased by $98 million to $65.65...
Foreign exchange reserves drop $10.7 billion to $690.43 billion
Foreign exchange reserves drop $10.7 billion to $690.43 billion
Source: IANS
2024-10-19 08:42:07 am
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments In a bid to showcase India’s attractiveness as an investment destination and boost bilateral trade ties, Union Finance Minister Nirmala Sitharaman is set to embark on an official visit to Mexico and the US, beginning October 16, it was announced on Tuesday.  During the first leg of her maiden visit to Mexico from October 17-20, the Finance Minister will lead an Indian delegation, underscoring a positive trajectory of growing bilateral economic and trade relations between the two...
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments
FM Nirmala Sitharaman to visit Mexico and US to boost trade ties, woo investments
Source: IANS
2024-10-16 09:31:40 am
`Indian era` is here despite huge global uncertainty: PM Narendra Modi In the midst of a huge global uncertainty, the "Indian Era" is here which shows that trust in Bharat today is unique, and demonstrates that the nation's self-confidence is exceptional, Prime Minister Narendra Modi said on Friday.  Addressing the third ‘Kautilya Economic Conclave 2024’ here, PM Modi said that this event is being held at a time when two major regions of the world are in a state of war. "These regions are crucial for the global economy, ...
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
Source: IANS
2024-10-05 09:29:42 am
Israel-Iran conflict: India Inc braces for wider sea trade disruption As the conflict in the Middle East escalates with Israel vowing to retaliate after the missile attacks by Iran, India Inc is bracing for a wider trade disruption across the key Red Sea route.  The conflict can lead to higher cargo freight rates as Lebanon's Iran-backed Hezbollah militia has close ties with the Houthi rebels in Yemen -- responsible for most attacks on ships travelling via the Red Sea route, say industry experts, adding that a direct conflict between Israel and Iran...
Israel-Iran conflict: India Inc braces for wider sea trade disruption
Israel-Iran conflict: India Inc braces for wider sea trade disruption
Source: IANS
2024-10-02 03:20:23 pm
Fresh all-time high forex to further boost country’s external sector resilience As India's forex reserves jumped $5.2 billion to a fresh all-time high of $689.24 billion, industry experts said on Saturday that this will create external sector resilience and boost economy across sectors.  According to the weekly data by Reserve Bank of India (RBI), foreign currency assets (FCAs) grew by $5.10 billion to $604.1 billion (week ended September 6). The data showed a $129 million increase in Gold reserves to $61.988 billion, compared to $61.859 billion in the Aug...
Fresh all-time high forex to further boost country’s external sector resilience
Fresh all-time high forex to further boost country’s external sector resilience
Source: IANS
2024-09-14 10:41:35 am
India`s foreign exchange reserves hit fresh high India's foreign exchange reserves extended their winning run for a fourth straight week to hit a record high of $689.24 billion as of Sept. 6, data from the central bank showed on Friday. The reserves rose by $5.3 billion in the reporting week, after having risen by a total of $13.9 billion in the prior three weeks. The RBI intervenes on both sides of the foreign exchange market to prevent undue volatility in the rupee. These interventions, via state-run banks in the spot market,...
India`s foreign exchange reserves hit fresh high
India`s foreign exchange reserves hit fresh high
Source: Reuters
2024-09-13 05:48:05 pm
India`s forex reserves hit record high  India's foreign exchange reserves rose for a second straight week and hit a record high of $681.69 billion as of Aug. 23, data from the central bank showed on Friday. The reserves rose $7 billion in the reporting week. They had risen $4.5 billion in the prior week. The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee. Changes in foreign currency assets are caused by the RBI's intervention as well as the appreci...
India`s forex reserves hit record high
India`s forex reserves hit record high
Source: Reuters
2024-08-30 06:05:31 pm
Ghana to commence Eurobond debt exchange for investors to firm up debt restructuring  The government of Ghana said that it would soon invite its Eurobond investors for a debt exchange offer to boost its debt restructuring efforts.  During a regular monthly economic update, Finance Minister Mohammed Amin Adam said that the exchange would commence in the coming days, giving bondholders an offer to exchange their existing debts for reissued ones in a 21-day offer, Xinhua news agency reported. "We expect all of our outstanding bonds to be exchanged for our ne...
Ghana to commence Eurobond debt exchange for investors to firm up debt restructuring
Ghana to commence Eurobond debt exchange for investors to firm up debt restructuring
Source: IANS
2024-08-30 11:37:29 am
IMF approves $820 mn disbursement to Egypt The International Monetary Fund (IMF) approved a disbursement of US$820 million to Egypt as part of an 8 billion-dollar loan program.  The IMF on Monday said macroeconomic conditions in Egypt have improved since the program's first and second reviews in March, noting that inflationary pressures are gradually abating, foreign exchange shortages have been eliminated, and fiscal targets have been met, reports Xinhua news agency. However, the IMF warned that the regional environmen...
IMF approves $820 mn disbursement to Egypt
IMF approves $820 mn disbursement to Egypt
Source: IANS
2024-08-27 09:41:14 am
SBI sees India`s Q1 GDP growth at 7.1 per cent with farm sector bouncing back  The Indian economy is expected to grow at 7.1 per cent in the first quarter (April-June) of the current financial year with the farm sector posting a robust performance, according to a report by SBI Research.  The estimate is in line with the RBI's projection for India's GDP growth of 7.2 per cent for 2024-25 with growth for Q1 expected at 7.1 per cent, Q2 at 7.2 per cent, Q3 at 7.3 per cent, and Q4 at 7.2 per cent. SBI Research, in its latest Ecowrap report, observed...
SBI sees India`s Q1 GDP growth at 7.1 per cent with farm sector bouncing back
SBI sees India`s Q1 GDP growth at 7.1 per cent with farm sector bouncing back
Source: IANS
2024-08-27 09:01:47 am
India`s forex reserves rise to $674.66 billion as of August 16 India's foreign exchange reserves rose by $4.5 billion and stood at $674.66 billion as of Aug. 16, but were just shy of record highs, data from the Reserve Bank of India showed on Friday. The forex reserves had fallen by $4.8 billion in the previous week, the biggest decline in four months. The reserves had reached a record high of $674.92 billion in the week to Aug. 2. Changes in foreign currency assets are caused by the RBI's intervention as well as the appreciation or depreciati...
India`s forex reserves rise to $674.66 billion as of August 16
India`s forex reserves rise to $674.66 billion as of August 16
Source: Reuters
2024-08-24 10:01:45 am
Size of Indian economy has potential to touch $55 trillion by 2047: IMF’s Krishnamurthy Subramanian Executive director at the International Monetary Fund (IMF) Krishnamurthy Subramanian has said that the size of the Indian economy has the potential to touch $55 trillion by 2047 if the growth rate in dollar terms remains at 12 per cent. He also said that inflation targeting since 2016 had helped the country average out the rate of price rise to 5 per cent. Before 2016, the average rate of inflation was 7.5 per cent.  Subramanian stated that with a real growth of 8 per cent, the nomin...
Size of Indian economy has potential to touch $55 trillion by 2047: IMF’s Krishnamurthy Subramanian
Size of Indian economy has potential to touch $55 trillion by 2047: IMF’s Krishnamurthy Subramanian
Source: Accord Fintech
2024-08-22 11:50:10 am
India’s target of $55 trillion economy is ambitious but achievable: IMF official India’s economy is projected to grow to $55 trillion by 2047 if the country is able to register an average real growth rate of 8 per cent in the coming years which is an ambitious but achievable target, IMF executive director Krishnamurthy V Subramanian has said. Speaking at a media event here, he said that 8 per cent is achievable, given the country’s demographics and Government policies that have been implemented to drive up the growth rate over the past 10 years like the pub...
India’s target of $55 trillion economy is ambitious but achievable: IMF official
India’s target of $55 trillion economy is ambitious but achievable: IMF official
Source: IANS
2024-08-21 11:57:24 am
India a bright spot, to remain fastest-growing major economy this year Despite global macro-economic conditions, India continues to remain a bright spot and is expected to be the fastest-growing major economy this year, a report showed on Tuesday.  The country has become the fifth-largest economy in the world, and is set to be among the top three global economic powers soon. Dr Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), stated last week that the country is likely to achieve this feat by 2027. The IMF has raised i...
India a bright spot, to remain fastest-growing major economy this year
India a bright spot, to remain fastest-growing major economy this year
Source: IANS
2024-08-20 01:42:24 pm
Headline numbers of India's economy are strong: Gita Gopinath The overall headline numbers of India’s economy are strong, reflecting a large amount of public investment which has been a critical factor driving growth, according to IMF Deputy Managing Director Gita Gopinath.  She said India must carry out further reforms to maintain its growth trajectory and ensure sufficient job creation. Gita Gopinath, who expects the Indian economy to become the third largest in the world by 2027, said, “What is important is to ensure that all o...
Headline numbers of India's economy are strong: Gita Gopinath
Headline numbers of India's economy are strong: Gita Gopinath
Source: IANS
2024-08-19 12:37:22 pm
IMF’s Gita Gopinath goes bullish on India’s economic growth After Prime Minister Narendra Modi, during his Independence Day address to the nation, said the country is on its way to become the third-largest economy with big reforms across sectors, Dr Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), has stated that the country is likely to achieve this feat by 2027.  The country has become the fifth-largest economy in the world, and is set to be among the top three global economic powers soon. According to Gop...
IMF’s Gita Gopinath goes bullish on India’s economic growth
IMF’s Gita Gopinath goes bullish on India’s economic growth
Source: IANS
2024-08-17 10:27:30 am
India's forex reserves hit record high of $675 billion as of Aug. 2  India's foreign exchange reserves hit a record high of $675 billion as of Aug. 2, Shaktikanta Das, the governor of the central bank, said on Thursday. The reserves rose by $7.6 billion in the reporting week, as per Reuters' calculations. They had fallen by $3.5 billion in the prior week, the biggest in over three months. The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee. Changes in foreign currency assets ar...
India's forex reserves hit record high of $675 billion as of Aug. 2
India's forex reserves hit record high of $675 billion as of Aug. 2
Source: Reuters
2024-08-08 11:01:32 am
Sri Lanka's economic recovery continues: IMF Sri Lanka's economic recovery continues with real gross domestic product (GDP) posting three consecutive quarters of expansion, and growth accelerating to 5.3 per cent year-on-year in the first quarter of 2024, the International Monetary Fund (IMF) said on Friday.  According to the statement, an IMF mission team led by senior mission chief Peter Breuer visited Sri Lanka from July 25 to August 2 to discuss recent macroeconomic development and progress in implementing economic and f...
Sri Lanka's economic recovery continues: IMF
Sri Lanka's economic recovery continues: IMF
Source: IANS
2024-08-02 05:19:15 pm
G20 calls for fairer global tax system Finance ministers and central bank presidents of the Group of Twenty (G20) concluded their third meeting in Rio de Janeiro, adopting a joint communique that calls for a more just, stable, and efficient international tax system.  "We acknowledge the urgency and importance of realignment in quota shares to better reflect members' relative positions in the world economy, while protecting the quota shares of the poorest members," the communique states, also addressing the de...
G20 calls for fairer global tax system
G20 calls for fairer global tax system
Source: IANS
2024-07-27 12:59:35 pm
Indian economy ripe for robust growth, entering 'Goldilocks period'  As the stock markets reach record high amid a surge in new investments and GDP forecast to grow at 7 per cent for FY25, the Indian economy is entering a ‘Goldilocks period’ amid ideal conditions for growth and profitability, according to an ace global expert.  According to Kenneth Andrade of Old Bridge Mutual Fund, there are ideal conditions for growth in the Indian economy amid strong fundamentals across parameters. In a report, Andrade provided a cautious yet op...
Indian economy ripe for robust growth, entering 'Goldilocks period'
Indian economy ripe for robust growth, entering 'Goldilocks period'
Source: IANS
2024-07-20 12:23:05 pm
India`s foreign exchange reserves hit record high India's foreign exchange reserves rose for a second straight week and hit a record high of $666.85 billion as of July 12, data from the central bank showed on Friday. The reserves rose by $9.7 billion in the reporting week, the biggest jump in four months. Reserves had risen by $5.16 billion in the prior week. The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee. Changes in foreign currency assets are caused by the RBI&#...
India`s foreign exchange reserves hit record high
India`s foreign exchange reserves hit record high
Source: Reuters
2024-07-19 06:05:15 pm
IMF raises India`s GDP growth forecast to 7 pc for 2024-25 The International Monetary Fund (IMF) on Tuesday raised India's GDP growth forecast for 2024-25 to 7 per cent from 6.8 per cent projected earlier on the back of “improving private consumption, particularly in rural India".  "The forecast for growth in India has also been revised upward, to 7 per cent, this year, with the change reflecting carryover from upward revisions to growth in 2023 and improved prospects for private consumption, particularly in rural areas,&q...
IMF raises India`s GDP growth forecast to 7 pc for 2024-25
IMF raises India`s GDP growth forecast to 7 pc for 2024-25
Source: IANS
2024-07-17 09:03:10 am
IMF approves $164.6 mn funding for Rwanda The International Monetary Fund (IMF) on Wednesday announced the approval of 164.6 million U.S. dollars in funding for Rwanda to strengthen its economic resilience against future climate shocks.  The package includes 76.2 million dollars from the Resilience and Sustainability Facility (RSF) and 88.4 million dollars through the Standby Credit Facility, the IMF said in a statement, reports Xinhua News Agency. "Going forward, the policy mix should prioritize macroeconomic and fin...
IMF approves $164.6 mn funding for Rwanda
IMF approves $164.6 mn funding for Rwanda
Source: IANS
2024-05-24 09:22:50 am
India cenbank's FX intervention eases as conditions turn favourable for rupee  India's improving trade deficit, inflows into bonds and reduced pressure on the rupee in the offshore market has lowered the need for the Reserve Bank of India (RBI) to intervene aggressively in the foreign exchange market. The RBI's interventions eased significantly earlier this year, with the RBI buying $8.5 billion in February and not making any sales, its latest monthly bulletin showed. Its gross FX intervention in February was the lowest in six months and about an eig...
India cenbank's FX intervention eases as conditions turn favourable for rupee
India cenbank's FX intervention eases as conditions turn favourable for rupee
Source: Reuters
2024-05-02 01:54:17 pm
RBI sees price of India`s crude oil imports at $85 a barrel in 2024-25 The RBI expects the price of the Indian basket of crude oil imports to be around $85 per barrel going ahead amid geopolitical tensions which have “imparted significant uncertainty” to the outlook. India exports around 85 per cent of its crude requirement, and soaring oil prices which have often crossed the $90 a barrel mark in recent years, tend to drag down the economy. The RBI’s monetary policy report released on Friday states that international crude prices exhibite...
RBI sees price of India`s crude oil imports at $85 a barrel in 2024-25
RBI sees price of India`s crude oil imports at $85 a barrel in 2024-25
Source: IANS
2024-04-05 04:01:07 pm
India`s forex reserves jump to record high  India's foreign exchange reserves rose for a fifth straight week to hit a record high of $642.63 billion as of March 22, data from the central bank showed on Friday. The reserves jumped by $139 million in the reporting week. Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves. Foreign exchange reserves include India's Reserve Tranche position in the International Monet...
India`s forex reserves jump to record high
India`s forex reserves jump to record high
Source: Reuters
2024-03-30 09:42:56 am
India`s GDP to log 6.4% growth in Q3 FY24  Government owned mortgage lender Bank of Baroda (BOB) on Friday predicted India’s gross domestic product (GDP) in Q3 FY24 to grow at 6.4 per cent on the back of subdued growth in industrial and agricultural sectors. “For Q3FY24, the economy is projected to grow at a slower pace by 6.4 per cent against a growth of 7.6 per cent in Q2FY24 led by subdued growth in agriculture and industry sector. Service sector is expected to lift up growth,” Jahnavi Prabhakar, Economis...
India`s GDP to log 6.4% growth in Q3 FY24
India`s GDP to log 6.4% growth in Q3 FY24
Source: IANS
2024-02-23 02:47:11 pm
RBI economists reject IMF view that India`s debt-GDP ratio may shoot up RBI economists, in a report released on Tuesday, rejected the IMF view that India’s debt-GDP ratio has the potential of shooting past 100 per cent if historical shocks materialise and hence the country needs to go cut government expenditure. In an article in the RBI bulletin, the economists including RBI Deputy Governor Michael Patra said: “Our simulations reveal that the general government debt-GDP ratio swerves below the projected path set out by the IMF in its latest Article...
RBI economists reject IMF view that India`s debt-GDP ratio may shoot up
RBI economists reject IMF view that India`s debt-GDP ratio may shoot up
Source: IANS
2024-02-21 09:10:59 am
Inflation expectations in India may stabilise, edge down going ahead - RBI Bulletin Inflation expectations in India may stabilise and edge down going ahead but renewed pressures from cereals and proteins cannot be ruled out, the Reserve Bank of India said in its February bulletin published on Tuesday. The country's retail inflation eased to a three-month low of 5.1% in January, from 5.69% in December and 5.55% in November. Overall inflation developments are turning favourable, providing a stable environment for corporates to plan expansion strategies in anticipatio...
Inflation expectations in India may stabilise, edge down going ahead - RBI Bulletin
Inflation expectations in India may stabilise, edge down going ahead - RBI Bulletin
Source: Reuters
2024-02-20 05:14:12 pm
Analysis-Investors dig into India`s stock market as China flounders, discount risks  India's $4 trillion stock market is pulling in billions of dollars of domestic and foreign money as investors flock to a fast-growing alternative to China, brushing aside risks around overpriced shares, upcoming elections and regulatory uncertainty. The stream of investment has lifted the benchmark NSE Nifty 50 Index by a third in the last 10 months and attracted $20 billion in foreign inflows in 2023, according to India's national depository data. India's allure is ri...
Analysis-Investors dig into India`s stock market as China flounders, discount risks
Analysis-Investors dig into India`s stock market as China flounders, discount risks
Source: Reuters
2024-02-05 11:13:38 am
Success of India grounded in pursuit of reforms over last years: IMF`s Director Director of International Monetary Fund (IMF) Kristalina Georgieva has said the economic success of India is grounded in the pursuit of reforms over the last years. Georgieva exuded confidence that India would achieve its goal of being a developed nation by 2047 by staying the course. Georgieva said ‘India has been a bright spot in the world economy, and it continues to be so. We are upgrading projections for Indian growth to 6.5 per cent in 2024. This comes on the back of fairly strong...
Success of India grounded in pursuit of reforms over last years: IMF`s Director
Success of India grounded in pursuit of reforms over last years: IMF`s Director
Source: Accord Fintech
2024-02-02 10:55:11 am
Any proposals on taxation of investments relating to capital market to be keenly watched The Fed decision tonight (Wednesday night) and the interim Budget tomorrow (Thursday) will weigh on markets in the near-term, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Global markets will be keenly watching the Fed comment on the timeline and quantum of rate cuts. The first rate cut is likely to come in June 2024. The decline in the 10-year yield to 4.02% is positive since it will restrain FPI outflows, he said. The domestic market will be focused on ...
Any proposals on taxation of investments relating to capital market to be keenly watched
Any proposals on taxation of investments relating to capital market to be keenly watched
Source: IANS
2024-01-31 01:49:28 pm
IMF forecasts `soft landing` for global economy, upgrades India The International Monetary Fund (IMF) on Tuesday forecast a "soft landing" for the global economy hammered in recent years by a deadly pandemic, skyrocketing inflation and high interest rates, and protracted wars. It also upgraded the growth forecast for the India economy by 0.2 percentage points to 6.5 percent for both 2024 and 2025, citing resilient domestic demand. The IMF, in a World Economic Outlook report, said that the global recovery from the Covid-19 pandemic, Russia&...
IMF forecasts `soft landing` for global economy, upgrades India
IMF forecasts `soft landing` for global economy, upgrades India
Source: IANS
2024-01-31 09:33:01 am
Artificial intelligence to affect 40% of jobs globally: IMF Artificial intelligence (AI) will affect nearly 40 per cent of all jobs around the world, according to a new analysis by the International Monetary Fund (IMF). "In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions," IMF Managing Director Kristalina Georgieva said in a blogpost. According to the IMF, about 60 per cent of jobs may be impacted by AI ...
Artificial intelligence to affect 40% of jobs globally: IMF
Artificial intelligence to affect 40% of jobs globally: IMF
Source: IANS
2024-01-15 01:58:42 pm
Investors bet via options that India`s rupee will rise  Investors are betting that India's rupee will break out of its narrow range and rally this year, and are expressing that view via currency options. Volumes in the dollar-rupee options market have surged in the first few trading days of 2024, and the direction of these trades shows market participants expect the rupee to rise, escaping the central bank-induced narrow range of last year. The rupee, on Monday, climbed to 82.7800 to the U.S. dollar, its highest in more t...
Investors bet via options that India`s rupee will rise
Investors bet via options that India`s rupee will rise
Source: Reuters
2024-01-15 12:40:30 pm
Ratings agencies cheer India`s GDP surge buoyed by infra push, strong DPI  India has emerged as the world’s fastest growing economy amidst a worldwide economic slowdown and continues to be a bright spot going ahead with the IMF upgrading its growth forecast for the country twice this year. India's GDP grew at an impressive 7.6% in the July-September quarter of the current financial year despite a slowdown in agriculture as the robust performance of the manufacturing sector and high government expenditure on big ticket infrastructure projects kept ...
Ratings agencies cheer India`s GDP surge buoyed by infra push, strong DPI
Ratings agencies cheer India`s GDP surge buoyed by infra push, strong DPI
Source: IANS
2023-12-31 05:00:59 pm
US dollar losing its dominance The US dollar’s share of global central bank reserves has continued to decrease, nosediving to 59.2 per cent in the third quarter of 2023, according to the latest data released by the International Monetary Fund (IMF). The decline comes amid the de-dollarization trend gaining momentum across the globe, RT reported. IMF statistics show the greenback’s share is down from roughly 70 per cent in 2000. The dollar remains the world’s leading reserve currency with the euro comin...
US dollar losing its dominance
US dollar losing its dominance
Source: IANS
2023-12-31 04:50:24 pm
Indian government says IMF debt warning a worst case scenario  The Indian government said on Friday a warning from the International Monetary Fund (IMF) that the country's debt to GDP ratio could hit 100% was a worst-case scenario, and not a "fait accompli". The IMF, in a so-called article IV review, said India's general government debt, which includes federal and state government debt, could be 100% of GDP under adverse circumstances by fiscal 2028. India's finance ministry said this was "a worst-case scenario and ...
Indian government says IMF debt warning a worst case scenario
Indian government says IMF debt warning a worst case scenario
Source: Reuters
2023-12-23 09:36:52 am
Escalation of global debt post COVID a major concern, says report Surge in global debt following COVID-19 is a major concern as it has reached USD 92 trillion, accounting for about 92 per cent of global GDP in 2022, according to a recent report by credit rating agency CareEdge Ratings. Nearly USD 19 trillion, or about 20 per cent of this global public debt, has been accumulated since the onset of 2020. According to data from the International Monetary Fund, this Global Public Debt is expected to surge to USD 132 trillion by the year 2028. The escal...
Escalation of global debt post COVID a major concern, says report
Escalation of global debt post COVID a major concern, says report
Source: IANS
2023-12-21 02:51:18 pm
Indian economy projected to grow at 6.3% in current financial year: IMF The International Monetary Fund (IMF), in its Article IV consultation report, which reviews a country's current and medium-term economic outlook, has said that the Indian economy is projected to grow at 6.3 per cent in the current financial year 2023-24 and the next. It said the country's growth is expected to remain strong, supported by macroeconomic and financial stability. On inflation front, the IMF In its report projected 5.4 per cent for this fiscal year and 4.6 per cent for ...
Indian economy projected to grow at 6.3% in current financial year: IMF
Indian economy projected to grow at 6.3% in current financial year: IMF
Source: Accord Fintech
2023-12-20 10:23:48 am
India`s growth rate to stay strong, current account deficit to dip: IMF report  India’s economic growth rate is expected to remain strong, supported by macroeconomic and financial stability, according to an International Monetary Fund (IMF) assessment report released on Tuesday. “Going forward, the country’s foundational digital public infrastructure and a strong government infrastructure program will continue to sustain growth. India has potential for even higher growth, with greater contributions from labour and human capital, if comprehensiv...
India`s growth rate to stay strong, current account deficit to dip: IMF report
India`s growth rate to stay strong, current account deficit to dip: IMF report
Source: IANS
2023-12-19 11:44:20 am