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Paris Club The Paris Club is probably going to provide the IMF with financial guarantees on the Sri Lankan debt. More on the news: A loose association of predominantly western creditor nations, the Paris Club. It evolved from a gathering of Argentina's public creditors held in Paris in 1956. Finding long-term debt relief options for nations unable to pay back bilateral loans is its main goal. Members of the Organization for Economic Co-operation (OECD) and Development is also a member of the Paris Club. The following countries are members: Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Israel, Japan, Netherlands,…
03 February, 2023
IMF
EXTERNAL SECTOR REPORT 2022: IMF The International Monetary Fund (IMF) has released its 2022 External Sector Report and advises India to roll back stimulus packages gradually. Highlight of report Fiscal and monetary policy stimulus The International Monetary Fund (IMF) advised India to progressively reduce monetary and fiscal policy support. Governmental intervention to promote private sector economic activity through the use of focused, expansionary monetary or fiscal policy is known as "economic stimulus." Central banks often implement monetary policy, which is largely concerned with managing interest rates and the total amount of money in circulation. The word "fiscal policy" refers to a government's…
06 August, 2022
IMF
International Monetary and Financial Committee-IMFC Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC) of the Board of Governors of the International Monetary Fund (IMF) at the Annual Meetings 2021 held in Washington D.C. on 14th October 2021. International Monetary and Financial Committee It is the Ministerial-level committee of the International Monetary Fund (IMF). It meets twice a year, once during the Fund-Bank Annual Meetings in October and once during the Spring Meetings in April. The Committee discusses matters of common concern affecting the global economy and advises the IMF on the direction of its work.…
16 October, 2021
IMF
International Monetary Fund (IMF) HQ is Washington DC. Head is Kristilina Georgiva. India is a founding member. 189 members. IMF is a cooperative institution. Functions of IMF Majorly for exchange rate stability, deciding exchange rate, distinctions between hard and soft currency, issuing paper gold and SDR mainly to tackle the crisis. Responsible for predicting World GDP, and growth rate, both for developed and developing countries separately. IMF works to control inequality and mainstream women. WB membership is important for IMF. Reports World Economic Outlook Global Financial Stability Report. Working areas Surveillance and Finance and tech assistance to counter to meet…
26 October, 2020
IMF
Hope amid uncertainty: On IMF’s World Economic Outlook Context: IMF in its latest World Economic Outlook has called for more international cooperation as the world economy recovers slowly. COVID-19 has already claimed over a million lives. The pandemic has led to the loss of livelihoods and a fall in output in economies. IMF sums up the challenges ahead in the report’s title: ‘A long and difficult ascent’. News: The Fund’s economists have sought to make forecasts for world output through 2020, 2021 and into the medium term. While the global economy is projected to shrink 4.4% in 2020-21, reflecting a…
17 October, 2020
IMF
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