G20 summit: PM Modi shared a photo of the his meeting with Gita Gopinath and Kristalina Georgieva, the Managing Director of IMF.
IMF chief Georgieva called India a ‘bright spot’ in the current global scenario. Here's what Managing Director Kristalina Georgieva said about India at a news conference on the IMF's Global Policy Agenda during the 2022 annual meeting of the IMF and the World Bank Group on October 13.
And so, the country is now stepping into taking the lead on G20 from that position of strength, which makes me strongly believe that we will see India leaving a mark on the world for years to come during next year's presidency (of G20), Georgieva said.
The International Monetary Fund is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by $4 trillion through 2026. Here's what Managing Director Kristalina Georgieva said in an address at Georgetown University, Washington, DC, on October 6.
In a major policy speech ahead of the annual meeting of the International Monetary Fund (IMF) and the World Bank, IMF Managing Director Georgieva said the World Economic Outlook to be released next week would further downgrade the global growth projections.
Georgieva said the surprising rise in inflation was "just one snippet of the uncertainty and difficulties" the global economy faced. Both the COVID-19 pandemic and Russia's invasion of Ukraine contributed to surging prices and a cost-of-living crisis.
According to a Rashtrapati Bhavan statement, President Droupadi Murmu said the IMF has to play an important role in maintaining the stability of the international monetary system.
Speaking about whether the world is now staring at a recession, the IMF chief Kristalina Georgieva said: “What I can tell you is that inflation has proven to be much more stubborn than we thought it would be because of the triple crisis – pandemic, war, and then cost of living..."
Georgieva said almost a third of emerging market countries and twice that proportion of low-income countries were in debt distress, with the situation worsening as advanced economies raised interest rates.
IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming weeks its 2022 forecast for 3.6% global economic growth for the third time this year, adding that IMF economists were still finalizing the new numbers.
PM Ranil Wickremesinghe said that he has urged IMF chief Kristalina Georgieva to "expedite" its assistance programme to Sri Lanka and underlined that no country except India is providing money to the crisis-hit island nation for fuel.
TerraUSD, or UST, imploded earlier this month, setting off a chain reaction that saw the overall value of the cryptocurrency market slashed by hundreds of billions of dollars.
"IMF Managing Director Kristalina Georgieva has tested positive for COVID-19. She is experiencing mild symptoms and is working remotely while isolating at home," the Washington-based crisis lender's spokesman Gerry Rice said in a statement.
IMF Managing Director Kristalina Georgieva made the remarks at a joint news conference with Nadia Calviño, Chair, the International Monetary and Finance Committee of the IMF.
The IMF, early this week, projected a “fairly robust” growth of 8.2 per cent for India in 2022, making it the fastest-growing major economy in the world, almost twice faster than China’s 4.4 per cent.
During the meeting held on the sidelines of the ongoing annual spring meetings of the International Monetary Fund (IMF) and the World Bank, the IMF chief highlighted India's well-targeted policy mix that has helped the country's economy remain resilient even with a limited fiscal space.
The global economy likely won’t be able to avoid a slump, absent a resumption of Russian energy exports this year. Ultimately, that depends on how much pain the US and its partners are prepared to endure to punish the Russian president for his invasion of Ukraine.
The possibility has become more than market speculation after the head of the International Monetary Fund, Kristalina Georgieva, conceded that a Russian default is no longer an "improbable event.” Here is a look at possible consequences from a Russian default.
The top official of the International Monetary Fund (IMF), during a media round table on Thursday on the Russian invasion of Ukraine, told a select group of reporters that the world got through a crisis like no other with the pandemic.
During a media roundtable on Thursday on the Russian invasion of Ukraine and its global impact, Gita Gopinath, who is the First Deputy Managing Director of the IMF, observed that the war has posed a challenge to economies around the world, including India.
While the DSSI offers repayment over a fixed timeframe following a grace period, the Common Framework is more flexible, with repayment periods based on countries' individual circumstances and provisions to require participation from private and other lenders.
Deputy US Treasury Secretary Wally Adeyemo told a US Senate Banking Committee hearing that it was made clear during meetings that “changes need to be made to ensure whistleblowers' rights are protected and integrity of the institutions are protected”
The IMF predicts that for the world's advanced economies as a whole, growth will amount to 5.2% this year, compared with a meager predicted gain of 3% for low-income developing countries.
The 68-year-old took the helm of the Washington-based crisis lender in October 2019 after Christine Lagarde departed to lead the European Central Bank.
The 24-member board reached the decision on Monday after marathon meetings over the past week, where members debated the future of Georgieva, a Bulgarian economist and the first person from a developing country to head the fund.