Washington, April 12 (IANS) The head of the International Monetary Fund has warned that the Iran war has triggered a “large” global economic shock, disrupting energy supplies and pushing up prices worldwide, with the impact expected to linger well into next year. Kristalina Georgieva, Managing Director of the IMF, said the scale and duration of the disruption would determine the long-term fallout, but cautioned that the effects are already widespread.“What I can tell you is that this shock…
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New Delhi, April 12 (IANS) Finance ministers and central bankers from the 191 member countries will attend the International Monetary Fund (IMF) and World Bank’s spring meetings, to be held from April 13-18 in Washington, DC, to take stock of the global economic uncertainties amid the fragile ceasefire between the US and Iran and continuing uncertainties over the outcome of the peace talks.IMF managing director Kristalina Georgieva has warned that the new economic forecasts, to be published on…
Islamabad, April 11 (IANS) US Vice President, J.D. Vance, arrived in Islamabad at around 11:15 A.M. (IST) on Saturday to lead the American delegation for the crucial US-Iran talks. All eyes are on Islamabad this weekend as high-stakes negotiations between the US and Iran get underway, carrying major implications for stability in the Middle East and the global economy.Speaking to reporters before departing from Joint Base Andrews aboard Air Force Two, Vance struck an optimistic tone about the upc…
Washington, April 10 (IANS) Rising geopolitical tensions are beginning to reshape economic expectations, with the World Bank’s president Ajay Banga warning that prolonged conflict could dampen growth, fuel inflation and strain vulnerable economies.Speaking at the Atlantic Council, World Bank President Ajay Banga said the ongoing conflict in the Middle East, combined with existing crises such as the war in Ukraine, is already exerting pressure on global economic conditions.“The emerging marke…
New Delhi, April 9 (IANS) India has consistently shown strong resilience during global crises, not just surviving them but transforming and emerging stronger each time, Shaktikanta Das, Principal Secretary to the Prime Minister, said on Thursday.Speaking at the AIMA National Leadership Conclave in the national capital, Das said that India’s journey through turbulent times reflects its ability to grow despite challenges.“During every crisis, the country has not merely endured difficulties but…
Seoul, April 3 (IANS) South Korean President Lee Jae Myung said on Friday that he and French President Emmanuel Macron agreed to work together to secure the safe passage through the Strait of Hormuz and mitigate the broad impact from the war in the Middle East.Lee addressed concerns over uncertainties in global energy supply chains following summit talks with Macron, during which the two leaders discussed ways to deepen economic ties and strengthen coordination on security issues.”President Macr…
Hyderabad, March 30 (IANS) The Telangana Legislative Assembly on Monday unanimously passed a resolution, urging the Centre to take the initiative to stop the war in the Middle East. The resolution warns that if the war between the US, Israel, and Iran continues, this could lead to a third World War, posing a serious threat to the very survival of humanity.Deputy Chief Minister Mallu Bhatti Vikramarka introduced the resolution, which was passed by a voice vote.The resolution noted that the …
New Delhi, March 28 (IANS) Chief Economic Advisor V. Anantha Nageswaran on Saturday said that given the considerable impact of the West Asia conflict on India’s economy, the country should leverage the fallout to redouble its recent reform efforts to enhance India’s competitiveness and preparedness. The ‘entrepreneurial mindset’ in bureaucracy, accompanied by enhanced speed of decision-making, is precisely what is called for if India is to emerge from this episode stronger, more resil…
New Delhi, March 27 (IANS) Union Minister Pralhad Joshi on Friday termed the Opposition’s behaviour in Parliament as “most unfortunate,” accusing the Congress and other parties of acting irresponsibly at a time when the world is grappling with economic challenges, particularly rising crude oil prices.“The Opposition’s behaviour in Parliament at present is most unfortunate. The Congress and a few other major parties are acting irresponsibly,” Joshi said, claiming that instead of ackno…
New Delhi, March 26 (IANS): The Organisation for Economic Cooperation and Development (OECD) on Thursday pegged India’s GDP growth rate at 7.6 per cent for 2025-26, 6.1 per cent for 2026-27 and 6.4 per cent for 2027-28, with the country remaining the world’s fastest-growing major economy. The OECD’s interim Economic Outlook report states that conflict in the Middle East is testing the resilience of the global economy. The halt in shipments through the Strait of Hormuz and the closure and dam…