Finance Minister Nirmala Sitharaman would attend the annual meeting of the International Monetary Fund and World Bank during her 10-day official visit to the US and Mexico, which begins on Wednesday. FM will also take part in G20 Finance Ministers & Central Bank Governors meetings, besides bilateral meetings with many countries and organization’s during the … Read more
Pakistan has announced that it will slash approximately 150,000 government roles, close six ministries, and merge two others as part of changes agreed upon with the IMF under a USD 7 billion loan arrangement. The International Monetary Fund approved the assistance package last week, releasing more than USD 1 billion in the first tranche after … Read more
Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF), said NDTV today that India will need to take a multi-pronged strategy to creating jobs rather than focusing on a few areas. She stated that, at least in India, any disruption created by artificial intelligence (AI) in the jobs sector will have a … Read more
The Finance Ministry responded on Friday to reports from the International Monetary Fund (IMF) cautioning India about alleged government debt vulnerabilities. The ministry asserted that certain presumptions made in the IMF report do not accurately reflect the current factual position. A key point highlighted by the finance ministry is that the majority of India’s general … Read more
In a significant development, the International Monetary Fund (IMF) has revised down Pakistan’s foreign loan requirements to USD 25 billion for the ongoing fiscal year, providing a relief of USD 3.4 billion for its cash-starved economy, as reported on Saturday. The Washington-based global lender also adjusted the economic growth projection to 2%, rejecting the government’s … Read more
The International Monetary Fund (IMF) has commenced its monitoring mission to evaluate Ukraine’s ongoing multibillion-dollar program, as the capital city, Kyiv, seeks more than $41 billion in international assistance to cover its budget deficit for the upcoming year. Key Highlights: Key Financial Updates: For more updates stay tuned to FELA News!
Poverty in Pakistan surged to 39.4 percent in the last fiscal year, with an additional 12.5 million people being pushed into poverty due to challenging economic conditions, according to the World Bank. The international financial institution has called on Pakistan to take immediate actions to achieve financial stability. The World Bank recently released draft policy … Read more
In a recent interview with RIA Novosti, Aleksei Mozhin, the International Monetary Fund’s (IMF) executive director for Russia, pointed out that the de-dollarization movement is gaining momentum across the globe due to Washington’s policies and actions. Mozhin highlighted how the call for de-dollarization is not only being observed in trade with China but also in … Read more
The gross domestic product (GDP) growth prediction for India by the International Monetary Fund (IMF) has been increased to 6.1% for the current fiscal year. “Growth in India is projected at 6.1% in 2023 (fiscal year 2023-24), a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the … Read more