ISLAMABAD: The disbursement of US$1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday (Apr 30), amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan’s US$3 billion standby arrangement with the IMF which it secured last … Read more
Riyadh: The International Monetary Fund (IMF) has opened a new regional office in Saudi Arabia’s capital Riyadh to strengthen partnerships with countries in the Middle East and beyond. The announcement came on Wednesday, April 24, on the sidelines of the “Industrial Policies to Promote Economic Diversification” conference, organized by the IMF in cooperation with the Saudi Ministry … Read more
Ajay Seth,Secretary, Department of Economic Affairs, Ministry of Finance, in New Delhi. File | Photo Credit: Kamal Narang During the annual Spring meetings of the IMF and the World Bank there was a widespread appreciation of the role played by India during its G-20 presidency in building consensus on a range of key global issues, … Read more
International Monetary Fund (IMF) logo. Representational image | Photo Credit: Reuters The recent remarks of Krishnamurthy Subramanian, Executive Director at the International Monetary Fund, about India’s growth figures does not represent the views of the IMF and were in his role as India’s representative at the global body, the IMF has said. “The views conveyed… … Read more
India is taking the “leadership” of the Global South but is also strengthening its ties with the Global North. (One could also speak of East and West). This fits into India’s policy of “re-balancing” its external relations. The North is seeing a growing shift of political and economic power towards the East. This shift is … Read more
The Nigerian government on Wednesday said it has become very difficult to sustain subsidies on electricity in the country. Nigeria’s Minister of Power, Adebayo Adelabu, disclosed this at a press conference in Abuja. Mr Adelabu explained that the indebtedness of the country’s power sector to electricity-generating companies (GenCos) and the gas companies (GasCos) has risen … Read more
Washington: The International Monetary Fund (IMF) on Tuesday forecast a “soft landing” for the global economy hammered in recent years by a deadly pandemic, skyrocketing inflation and high interest rates, and protracted wars. It also upgraded the growth forecast for the India economy by 0.2 percentage points to 6.5 percent for both 2024 and 2025, … Read more
The British boss of accounting firm PricewaterhouseCoopers (PwC) says staff should start going into the office to avoid AI taking their jobs. Kevin Ellis says as AI is poised to take on routine tasks traditionally given to younger workers, junior staff should seek promotions by regularly working in the office. Generative AI is removing “tasks … Read more
File picture of International Monetary Fund Managing Director Kristalina Georgieva. The IMF chief said that AI will affect 60% of jobs in advanced economies | Photo Credit: Reuters Artificial intelligence poses risks to job security around the world but also offers a “tremendous opportunity” to boost flagging productivity levels and fuel global growth, the IMF … Read more
India, which is currently holding G20 Presidency, has asked the IMF and Financial Stability Board (FSB) to jointly prepare a technical paper on crypto assets, which could be used in formulating a coordinated and comprehensive policy to regulate them. The international organisations are expected to present their joint paper during the 4th Finance Ministers and … Read more
