IMF says looming shutdown of US govt poses avoidable risk to nation's economy; urges parties to reach consensus

September 29, 2023 9:21 AM

IMF says looming shutdown of US govt poses avoidable risk to nation's economy; urges parties to reach consensus

International Monetary Fund (IMF) has said a looming shutdown of the US government posed an avoidable risk to the nation's economy. IMF spokesperson Julie Kozack also urged parties to reach consensus on continued funding for the federal government. To prevent the furloughs of hundreds of thousands of federal employees and the suspension of various essential services, including economic data releases and nutrition benefits, Congress needs to pass legislation that can be signed into law by Pr...

International Monetary Fund projects India's growth rate at 9.5 per cent for current fiscal year

July 28, 2021 8:45 AM

International Monetary Fund projects India's growth rate at 9.5 per cent for current fiscal year

International Monetary Fund has projected India's growth rate at 9.5 per cent for the current fiscal year. For the next Financial Year 2022-23, IMF expects economic growth of 8.5 per cent, larger than the 6.9 per cent it had projected in April.   Forecast for the current year 2021-22 is lower than the 12.5 per cent growth in GDP that the IMF had projected in April before the second wave of COVID-19 took a grip. In its latest World Economic Outlook, IMF said, growth prospects in India ha...

IMF revises growth projection for India to 11.5 per cent in 2021

January 28, 2021 2:38 PM

IMF revises growth projection for India to 11.5 per cent in 2021

International Monetary Fund, IMF projected an 11.5 per cent growth rate for India in 2021. It makes India only major economy of the world to register double-digit growth this year amidst the coronavirus pandemic. With the latest projections, India regains the tag of the fastest developing economies of the world.   Revising its figures, the IMF said that in 2020, the Indian economy is estimated to have contracted by eight per cent. In its latest World Economic Outlook Update, China is next with 8...

October 15, 2020 8:34 AM

The International Monetary Fund (IMF) has revised its estimate to a somewhat less severe recession than it predicted in June. From contraction of 5.2 per cent, the latest IMF report revised its prediction saying global growth to contract to 4.4 per cent this year. IMF Chief Economist Gita Gopinath warned that the ascent out of the COVID-19 pandemic is likely to be long, uneven and highly uncertain.