India takes leading role in calling for multilateral bank reforms
India has also adopted another two-pronged approach to promote change: Setting up a fund with the UN for developing countries and working with the BRICS on the New Development Bank.
India has also adopted another two-pronged approach to promote change: Setting up a fund with the UN for developing countries and working with the BRICS on the New Development Bank.
As the world is in the midst of the ‘Great Election Year’ of 2024, the International Monetary Fund (IMF) has sounded the alarm on the perilous tight-rope walk between democratic exercises and fiscal responsibility.
The Maldives is highly vulnerable to climate change risks, with potentially severe economic costs due to floods and rising sea level, the IMF said.
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 data cited the buoyant domestic spending and improved global growth prospects.
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.
The World Bank has said that various economic shocks have resulted in nearly four million Pakistanis getting pushed into poverty this fiscal year.
The present government under Shehbaz Sharif has defrosted the IMF programme (frozen in March 2022) and is in the throes of negotiations for its speedy resuscitation
The fresh drop came after the government failed to make any headway in its talks with the International Monetary Fund (IMF) for the revival of its stalled USD 6.5 billion loan programme.
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.
