Washington, July 9 (IANS) China must urgently overhaul its economic growth model by shifting away from exports towards stronger domestic consumption as it grapples with weak demand, slowing productivity and a rapidly ageing population, the International Monetary Fund (IMF) said on Thursday, warning that these structural challenges will weigh on the world’s second-largest economy in the years ahead. Speaking at the IMF’s regular press briefing, Julie Kozack, Director of the IMF’s Communications D…
Latest global growth News & Updates
New Delhi, July 7 (IANS) Prime Minister Narendra Modi said on Tuesday that India’s economy is playing a major role in driving global growth, fuelled by the mantra of “Reform, Perform and Transform.” Addressing the Indian community in Jakarta, PM Modi highlighted that this mantra had helped accelerate the country’s development and strengthen its position on the global stage.The Prime Minister thanked the Indian community in Indonesia for helping to strengthen ties between the two countries.He poi…
New Delhi, April 23 (IANS) Global economic conditions and sentiments have soured after the outbreak of the West Asia conflict, adversely impacting the growth-inflation outlook, Governor Sanjay Malhotra said in the latest RBI Bulletin on Thursday, adding that Central Bank would remain vigilant of the evolving situation and put in place policies that prioritise the best interest of the economy.The conflict in West Asia has intensified pressures on the global supply chains in March with some easing…
Washington, April 20 (IANS) Asia’s growth remains resilient, but a surge in oil and gas prices driven by the Middle East conflict is raising risks for inflation and external balances, the International Monetary Fund (IMF) said.“Asia entered 2026 on a solid footing with growth remaining resilient despite the region bearing the brunt of US tariffs and heightened uncertainty,” Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, said at a press briefing during the Spring M…
Washington, April 14 (IANS) India’s growth outlook remains resilient despite rising global uncertainty triggered by the Middle East conflict, the Chief Economist of the International Monetary Fund (IMF) Pierre-Olivier Gourinchas said Tuesday projecting a steady expansion even as inflation edges higher.In a group interview with reporters from India, Japan, the UAE, the Netherlands and Chile, Gourinchas said, “India has been doing very, very well in 2025,” noting that growth is now estimated…
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…
New Delhi, April 11 (IANS) India remains among the fastest-growing major economies in the world despite the global slowdown – likely to clock 6.6 per cent in FY27 — as higher energy prices caused by the Middle East conflict and supply chain disruptions weigh on economic activity.According to the latest World Bank’s latest economic update, despite significant downside risks stemming from the conflict, the economy’s strong macroeconomic fundamentals and policy buffers offer some insulation….
Washington, April 9 (IANS) A global oil shock linked to the Middle East conflict is set to hit growth and stoke inflation across energy-importing economies, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Thursday. In her curtain raiser speech ahead of the Annual Spring Meeting of the IMF, Georgieva said the disruption has cut the world’s daily oil flow by about 13 per cent and liquefied natural gas (LNG) supply by 20 per cent, triggering a broad-based rise…
New Delhi, Feb 13 (IANS) Prime Minister Narendra Modi said on Friday that India will be an engine of global growth and build its own development model as the country’s Reform Express is gathering further momentum. Addressing the ET Now Global Business Summit 2026 here, the Prime Minister said the Union government was accelerating the process of economic reforms not out of compulsion but because of its conviction to change the ecosystem to benefit the masses and achieve a ‘Viksit Bharat’ (Develop…
New Delhi, Feb 7 (IANS) As the United States and India finalised an interim trade agreement that reduces US tariffs on Indian goods to 18 per cent, Prime Minister Narendra Modi on Saturday hailed the development, calling it ‘great news’ for both nations. Taking to social media platform X, PM Modi said, “Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations. I thank President Trump for his personal commitment to robust ties betw…