IMF cuts growth projection for India ‘because it got it wrong before’

The International Monetary Fund on Tuesday hailed India as "one of the bright spots" in the global economy even as it trimmed its projected growth for 2023 by 0.2 percentage points, but only because, it acknowledged, it had previously underestimated the country's performance during the Covid-19 pandemic years of 2020-2021.

Pak banks on Saudi Arabia to avoid default

In what appears to be an alternative to the International Monetary Fund (IMF), Pakistan Finance Minister Ishaq Dar expressed hope to receive a $3 billion second bailout from Saudi Arabia within days, vowing to raise money through sale of assets to beef up the critically-low foreign exchange reserves.