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Prime Minister Narendra Modi on June 7 said that all beneficiaries above 18 years of age would be immunised free of cost beginning June 21.(ANI | Representational image)

IMF welcomes India’s efforts in making Covid-19 vaccinations accessible

By hindustantimes.com | Written by Srivatsan K C, Hindustan Times, New Delhi
PUBLISHED ON JUN 10, 2021 10:59 PM IST
During his fortnightly news conference, IMF’s spokesperson Gerry Rice said that the IMF “strongly welcomed” the government’s announcement to enable access to vaccinations.
Bitcoin banners are seen outside of a small restaurant at El Zonte Beach in Chiltiupan, El Salvador.(REUTERS)
Bitcoin banners are seen outside of a small restaurant at El Zonte Beach in Chiltiupan, El Salvador.(REUTERS)

IMF sees risks after El Salvador makes Bitcoin legal tender

Bloomberg |
PUBLISHED ON JUN 10, 2021 08:40 PM IST
El Salvador’s congress approved a law this week requiring businesses to accept Bitcoin in exchange for goods and services.
The World Bank, World Health Organization and World Trade Organization this week endorsed a $50 billion IMF plan to end the pandemic by expanding access to vaccines.(AP | Representational image)
The World Bank, World Health Organization and World Trade Organization this week endorsed a $50 billion IMF plan to end the pandemic by expanding access to vaccines.(AP | Representational image)

IMF, World Bank ask G7 to release surplus Covid-19 vaccines

Reuters | , Washington
PUBLISHED ON JUN 04, 2021 01:34 AM IST
In a joint statement to the G7, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass also called on governments, pharmaceutical companies and groups involved in vaccine procurement to boost transparency about contracting, financing and deliveries.
For India, current bilateral purchases of vaccine plus coverage from COVAX will cover about 25 per cent of its population by the first half of 2022, the IMF report said.(Bloomberg)
For India, current bilateral purchases of vaccine plus coverage from COVAX will cover about 25 per cent of its population by the first half of 2022, the IMF report said.(Bloomberg)

Covid crisis in India a warning of possible events in other countries: IMF

PTI | , Washington
PUBLISHED ON MAY 22, 2021 10:49 AM IST
A report co-authored by International Monetary Fund economist Ruchir Agarwal and its Chief Economist Gita Gopinath said that under the business-as-usual scenario, the vaccine coverage in India is expected to remain under 35 per cent of the population by the end of 2021.
The RBI held its policy repo rate at 4 per cent at its monetary policy meeting on April 7.(Mint)
The RBI held its policy repo rate at 4 per cent at its monetary policy meeting on April 7.(Mint)

With RBI keeping interest rates on hold, quantitative easing to unfold: Fitch

ANI | , Singapore
UPDATED ON APR 10, 2021 01:31 PM IST
This comes on the back of RBI pledging to buy up to 1 lakh crore of bonds in Q1 of FY22 to cap borrowing costs and to support the economy's recovery.
Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)
Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)

Faster global growth driven primarily by US, China, India: World Bank president

PTI | , Washington
UPDATED ON APR 08, 2021 07:06 AM IST
World Bank president David Malpass said here is also the concern of inequality in terms of vaccinations and median income that's not going up very fast for some countries.
The IMF is scheduled to release its World Economic Outlook on April 6. (File Photo )
The IMF is scheduled to release its World Economic Outlook on April 6. (File Photo )

India's economy on path of gradual recovery: IMF

PTI | , Washington
PUBLISHED ON MAR 26, 2021 07:56 AM IST
“India's economy is on the path of gradual recovery, real GDP growth, return to positive territory in fourth quarter of 2020," IMF’s spokesperson Gerry Rice said.
According to IMF forecasts, by the end of 2022, per capita income for central and eastern Europe would be 3.8% below pre-crisis projections, compared with a shortfall of just 1.3% for advanced EU economies.(Reuters)
According to IMF forecasts, by the end of 2022, per capita income for central and eastern Europe would be 3.8% below pre-crisis projections, compared with a shortfall of just 1.3% for advanced EU economies.(Reuters)

IMF says Covid-19 might widen wealth differences in Europe

Reuters |
PUBLISHED ON FEB 22, 2021 08:42 PM IST
Economists have warned that such divergence would make the economic management of the EU, including the monetary policy of the European Central Bank more difficult and would increase the risk of crises down the road.
Pakistan's Prime Minister Imran Khan. (File photo)(HT_PRINT)
Pakistan's Prime Minister Imran Khan. (File photo)(HT_PRINT)

IMF, Pakistan reach agreement to release around USD 500 million

PTI | , Islamabad
UPDATED ON FEB 16, 2021 10:47 PM IST
The IMF had agreed in 2019 to provide Pakistan USD 6 billion under a 39-month Extended Fund Facility (EFF) arrangement but it was disrupted due to Covid-19 pandemic last year.
People wearing protective masks look up at the Bombay Stock Exchange (BSE) building in Mumbai, India, on Thursday, Jan. 21, 2021. (Bloomberg)
People wearing protective masks look up at the Bombay Stock Exchange (BSE) building in Mumbai, India, on Thursday, Jan. 21, 2021. (Bloomberg)

Four charts on the state of the Indian economy

By Roshan Kishore, New Delhi
UPDATED ON FEB 08, 2021 04:38 AM IST
  • While the MPC has projected real GDP growth at 10.5% in 2021-22, the Budget assumes nominal growth of 14.4%. What exactly is the state of the Indian economy?
Prime Minister Narendra Modi’s administration is under pressure to shore up economic growth after the pandemic resulted in widespread job losses and pushed millions into poverty due to one of world’s strictest lockdown.(AFP | Representational image)
Prime Minister Narendra Modi’s administration is under pressure to shore up economic growth after the pandemic resulted in widespread job losses and pushed millions into poverty due to one of world’s strictest lockdown.(AFP | Representational image)

India said to forecast 11% growth buoyed by Covid-19 vaccine roll out

Bloomberg |
PUBLISHED ON JAN 28, 2021 09:39 PM IST
The forecast for next year is in line with the International Monetary Fund’s estimate for 11.5% expansion, which will once again make India the fastest-growing major economy in the world ahead of China’s 8.1% pace.
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.(AP)
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.(AP)

India needs bold policy response to secure robust economic recovery, says IMF

PTI | , Washington
PUBLISHED ON JAN 28, 2021 06:52 PM IST
The upward revision for FY21/22 to double-digit growth reflects carryover from a stronger-than-expected recovery in 2020.
Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements.(Reuters file photo)
Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements.(Reuters file photo)

IMF favours extension of pandemic support, thrust on infra investment in Budget

PTI |
PUBLISHED ON JAN 27, 2021 03:32 PM IST
On Tuesday, the IMF projected an impressive 11.5% growth rate for India in 2021. While this is attributable to the stronger than expected recovery, Gopinath said India still has some distance to go.
The Indian-American economist said the projected recovery in growth this year follows a severe collapse in 2020.(Bloomberg)
The Indian-American economist said the projected recovery in growth this year follows a severe collapse in 2020.(Bloomberg)

Covid-19: IMF says pandemic hit global economy projected to grow at 5.5% in 2021

PTI | , Washington
PUBLISHED ON JAN 26, 2021 07:55 PM IST
"We project global growth for 2021 at 5.5 per cent, 0.3 percentage point higher than our October forecast, moderating to 4.2 per cent in 2022,” said Gita Gopinath, Chief Economist of the IMF.
A nurse prepares a dose of Pfizer-BioNTech vaccine against the new coronavirus to be injected at the Andras Josa Teaching Hospital in Nyiregyhaza, Hungary, Sunday, Jan. 24, 2021. (Attila Balazs/MTI via AP)(AP)
A nurse prepares a dose of Pfizer-BioNTech vaccine against the new coronavirus to be injected at the Andras Josa Teaching Hospital in Nyiregyhaza, Hungary, Sunday, Jan. 24, 2021. (Attila Balazs/MTI via AP)(AP)

World’s economic recovery delayed by slow vaccine rollouts

Bloomberg |
PUBLISHED ON JAN 24, 2021 11:06 PM IST
The World Bank already this month trimmed its prediction to 4% in 2021 and the International Monetary Fund will this week update its own outlook.
The Congress on Friday vowed to continue their protests till the farm laws are repealed by the Centre
The Congress on Friday vowed to continue their protests till the farm laws are repealed by the Centre

Farm bills have potential but cannot ignore those adversely affected: IMF

PTI | , Washington
UPDATED ON JAN 16, 2021 05:55 AM IST
There is, however, a need to strengthen the social safety net for those who might be adversely affected by the transition to the new system, Gerry Rice, Director of Communications at IMF, said at a news conference in Washington on Thursday.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that she is impressed by the appetite for structural reforms that India is retaining.(PTI)
International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that she is impressed by the appetite for structural reforms that India is retaining.(PTI)

India took 'very decisive' steps to deal with Covid, economic impact: IMF chief

PTI | By hindustantimes.com, Washington
PUBLISHED ON JAN 15, 2021 12:37 PM IST
The International Monetary Fund is scheduled to release its World Economic Update on January 26.
Farmers raise slogans during the ongoing protest against the new farm laws at Haryana-Rajasthan border.(HT Photo)
Farmers raise slogans during the ongoing protest against the new farm laws at Haryana-Rajasthan border.(HT Photo)

Farm laws can be a 'significant step', but protect those adversely impacted: IMF

PTI | , Washington
UPDATED ON JAN 15, 2021 11:01 AM IST
Gerry Rice, Director of Communications at the International Monetary Fund (IMF), said the new measures will reduce the role of the middlemen and enhance efficiency.
The study is part of a long-standing partnership between the UNDP and the Pardee Center for International Futures at the University of Denver.(Raj K Raj/HT PHOTO)
The study is part of a long-standing partnership between the UNDP and the Pardee Center for International Futures at the University of Denver.(Raj K Raj/HT PHOTO)

Covid-19 could push number of people living in extreme poverty to over 1 billion by 2030: UN

United Nations | By Press Trust of India| Posted by Susmita Pakrasi
UPDATED ON DEC 06, 2020 11:00 AM IST
The ‘High Damage’ scenario anticipates that 80 per cent of the Covid-induced economic crisis would persist in 10 years’ time due to loss in productivity, preventing a full recovery to the growth trajectory seen before the pandemic.
In this image made from UNTV video, Pakistan PM Imran Khan speaks in a pre-recorded message which was played during the UN General Assembly's special session to discuss the response to Covid-19 .(AP)
In this image made from UNTV video, Pakistan PM Imran Khan speaks in a pre-recorded message which was played during the UN General Assembly's special session to discuss the response to Covid-19 .(AP)

At UN Covid meet, cash-strapped Pak PM Imran Khan seeks debt relief

Hindustan Times, Islamabad | By Imtiaz Ahmad
UPDATED ON DEC 04, 2020 11:06 PM IST
Addressing a session of the United Nations General Assembly on the response to the pandemic, Imran Khan pleaded on behalf of the developing countries for financial respite.
India has been severely affected by the pandemic but is gradually recovering(HT photo)
India has been severely affected by the pandemic but is gradually recovering(HT photo)

Indian economy is gradually recovering: IMF

Washington | By Press Trust of India | Posted by Shivani Kumar
UPDATED ON DEC 03, 2020 10:19 PM IST
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.
Dr. Rafik Abdou checks on a Covid-19 patient at Providence Holy Cross Medical Center in the Mission Hills section of Los Angeles, Thursday.(AP File Photo)
Dr. Rafik Abdou checks on a Covid-19 patient at Providence Holy Cross Medical Center in the Mission Hills section of Los Angeles, Thursday.(AP File Photo)

Covid-19 could disrupt global recovery, says IMF director

Washington | By Associated Press | Posted by Kanishka Sarkar
PUBLISHED ON NOV 20, 2020 07:16 AM IST
Last month, the IMF forecast that the global economy would contract by an historic 4.4% this year and then mount a partial and uneven recovery, with global growth rebounding by 5.2% next year.
International Monetary Fund Managing Director Kristalina Georgieva said the most recent data for contact-intensive service industries pointed to a slowing momentum in economies where the pandemic was resurging(REUTERS)
International Monetary Fund Managing Director Kristalina Georgieva said the most recent data for contact-intensive service industries pointed to a slowing momentum in economies where the pandemic was resurging(REUTERS)

Global economy recovery from the coronavirus‘remains difficult’: IMF chief

Washington | By Reuters | Posted by Ayshee Bhaduri
UPDATED ON NOV 19, 2020 07:02 PM IST
In a blog post, IMF Managing Director Kristalina Georgieva hailed what she called significant progress in the development of vaccines, but she cautioned that the economic path ahead remains “difficult and prone to setbacks.”
Pakistan approached the IMF in August 2018 for a bailout package after Prime Minister Imran Khan’s government took over.(AP)
Pakistan approached the IMF in August 2018 for a bailout package after Prime Minister Imran Khan’s government took over.(AP)

IMF programme for Pakistan unlikely to be back on track soon

Islamabad | By Press Trust of India | Posted by Ayshee Bhaduri
UPDATED ON NOV 13, 2020 06:35 PM IST
The IMF Executive board approved a three-year, USD 6 billion loan package for Pakistan in July last year. However, the programme has been in limbo since January this year and a second quarterly review of the 39-month facility could not be completed
The IMF last month forecast the global economy would contract by 4.4% in 2020, returning to growth of 5.2% in 2021, with emerging markets other than China hit considerably harder.(Reuters file photo)
The IMF last month forecast the global economy would contract by 4.4% in 2020, returning to growth of 5.2% in 2021, with emerging markets other than China hit considerably harder.(Reuters file photo)

IMF eyes new relationship with biggest shareholder after Biden win

Washington | By Reuters| Posted by: Harshit Sabarwal
UPDATED ON NOV 12, 2020 09:24 AM IST
IMF Managing Director Kristalina Georgieva sent “personal” letters to President-elect Biden and running mate Kamala Harris this week, an IMF spokesman told Reuters, without providing any details about their contents.
IMF Managing Director Kristalina Georgieva said the Bank of England should continue to keep monetary policy accommodative(Reuters)
IMF Managing Director Kristalina Georgieva said the Bank of England should continue to keep monetary policy accommodative(Reuters)

IMF tells Britain to keep spending to fend off coronavirus crisis

London | By Reuters | Posted by Ayshee Bhaduri
PUBLISHED ON OCT 29, 2020 11:00 PM IST
The IMF has estimated that Britain is on course to rack up a budget deficit of 16.5 per cent of gross domestic product this year, dwarfing the damage wrought on the country’s public finances by the global financial crisis.
Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements.(Reuters file photo)
Under an adverse economic scenario considered by the IMF, the world’s banks would fall $420 billion below regulatory capital requirements.(Reuters file photo)

IMF urges bank regulators to extend curbs on dividends, buybacks

By Bloomberg| Posted by: Harshit Sabarwal
UPDATED ON OCT 24, 2020 09:14 PM IST
Bank regulators should also act faster to roll back temporary relief measures that undermine the reliability of financial statements, or tweak global capital rules, even as other measures supporting the financial system remain in place, the IMF said in a new section of its semi-annual Global Financial Stability Report, released Friday.
IMF warned of significant downside risks and economic scarring as labour market participation falls with the most vulnerable likely to be the hardest hit.(REUTERS)
IMF warned of significant downside risks and economic scarring as labour market participation falls with the most vulnerable likely to be the hardest hit.(REUTERS)

IMF says Asia faces long recovery slog even as China grows

Asia-Pacific | By Bloomberg| Posted by Ayshee Bhaduri
PUBLISHED ON OCT 22, 2020 09:19 AM IST
The IMF’s downbeat outlook for Asia underscores how hard the road to recovery will be even in a region that drives global growth and where,in countries like China and South Korea,the virus has largely been contained
For decades, the need to cut emissions has been dogged by questions that essentially boil down to: how much will it cost, and is it worth it?(Unsplash)
For decades, the need to cut emissions has been dogged by questions that essentially boil down to: how much will it cost, and is it worth it?(Unsplash)

The IMF has a blueprint for helping the climate without hurting economic growth

By Bloomberg | Posted by Jahnavi Gupta
UPDATED ON OCT 17, 2020 07:30 PM IST
While the rest of the climate and energy world was poring over a different World Energy Outlook — the IMF’s comprehensive assessment of what the energy transition will mean for economies was relatively overlooked.
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, US.(REUTERS)
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, US.(REUTERS)

The IMF has a blueprint for helping the climate without hurting economic growth

By Bloomberg | Posted by Arpan Rai
PUBLISHED ON OCT 17, 2020 03:09 PM IST
The IMF’s new approach might herald a tipping point not just in the institution’s thinking about climate change, but the mainstream views of economics and policy making.
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