Singapore, May 25 (IANS) Singapore maintained its 2026 economic growth forecast at 2 per cent to 4 per cent on Monday, citing stronger-than-expected first-quarter expansion driven by artificial intelligence (AI)-related demand, even as risks from the US-Israel-Iran conflict cloud the global outlook.The Ministry of Trade and Industry (MTI) said the economy grew 6 per cent year-on-year in the first quarter, extending the 5.7 per cent expansion recorded in the previous quarter, supported by strong …
Latest International Monetary Fund News & Updates
Washington, May 21 (IANS) The International Monetary Fund (IMF) has said its staff mission had held “constructive discussions” with Pakistani authorities on the country’s economic situation, including the fallout from the ongoing conflict in the Middle East, while reviewing Islamabad’s reform commitments and budget strategy for fiscal year 2027.An IMF mission led by Iva Petrova visited Islamabad from May 13 to 20. The talks focused on recent economic developments, implementation of refor…
New Delhi, May 17 (IANS) Pakistan’s upcoming federal budget is likely to reflect an economy constrained by prolonged stabilisation policies, weak revenue generation and growing dependence on externally driven reforms, according to a recent economic analysis that warns the country risks slipping into a low-growth equilibrium without major structural recalibration.According to the analysis by Sakib Berjees, the country’s economic model has become heavily centred on stabilisation measures, with…
Harare, May 16 (IANS) The Zimbabwean government has begun formal negotiations for membership to the BRICS New Development Bank, Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube said in a statement on Saturday.The minister said that Zimbabwe had received official communication from New Development Bank President Dilma Rousseff, confirming the start of the accession process and outlining the next steps toward full membership.”The government of the Republic of Zimbabw…
Mumbai, May 15 (IANS) India’s foreign exchange reserves rose sharply by $6.295 billion to $696.988 billion during the week ended May 8, mainly driven by a significant increase in gold reserves, according to data released by the Reserve Bank of India on Friday.The latest rise comes after the country’s forex reserves had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s foreign exchange reserves had earlier touched a record high of $728.494 billion in the …
New Delhi, May 15 (IANS) Gold is very much the topic of conversation following Prime Minister Narendra Modi’s call urging Indians to refrain from buying it for some time.In India, gold is a financial asset as well as linked with social, cultural, and religious traditions. Purchases are culturally important in India, but they are also import-heavy. Asking households to delay buying gold is a direct way to trim the outflow of foreign exchange without significantly touching taxes or subsidies, whic…
New Delhi, May 13 (IANS) RBI Governor Sanjay Malhotra said that if the Middle East conflict continues, India may be forced to raise petrol and diesel prices due to the soaring cost of crude oil in the global market. The RBI Governor highlighted that rising energy prices due to the Iran war are testing India’s flexible inflation targeting, necessitating potential policy intervention by the Reserve Bank. The central bank’s next monetary policy meeting is slated for June 5, when it will take a ca…
Washington, May 9 (IANS) The International Monetary Fund approved about $1.3 billion in fresh funding for Pakistan after completing key programme reviews.The IMF Executive Board completed the third review of Pakistan’s Extended Fund Facility and the second review of its Resilience and Sustainability Facility. This allows an immediate disbursement of about $1.1 billion and $220 million.Total disbursements under the two programmes now stand at about $4.8 billion.The IMF said Pakistan’s “stro…
New Delhi, May 8 (IANS) Ashok Kumar Lahiri has taken charge as Vice Chairman of NITI Aayog, the government think tank said on Friday.Lahiri brings extensive experience in economic policy and public finance, having previously served as Chief Economic Adviser to the government and as a member of the 15th Finance Commission.According to NITI Aayog, his experience across academia, public institutions and international organisations will further strengthen its efforts towards evidence-based policymak…
New Delhi, May 5 (IANS) Pakistan is perhaps the only country in the world where individual debt has become the nation’s burden as those who borrow do not pay back and loan write-offs are common together with defaults, according to a new report.Then there are kickback projects which are built on borrowed money with no framework for payback. IMF has recently observed that there is no check on government spending, says the report in Business Recorder. “There is no parliamentary oversight or deb…