Prior to joining the Fund in 2010 as a special advisor to the managing director, Zhu had served as deputy governor of the People’s Bank of China.
The Loan provides an important opportunity to re-set macroeconomic policies, address key vulnerabilities, boost reserves, and support stability and resilience, says IMF deputy managing director and acting chair Zhu Min.
The International Monetary Fund said Britain risks falling into a self-reinforcing cycle of weaker economic growth and lower house and share prices if voters opt to leave the European Union next month.
So far a hypothetical monetary policy, it is being debated to spur spending and boosting economic growth in times of near-zero interest rates and ultra-low or negative inflation.
EU ministers are likely to expect further commitments by Greece on faster privatisation and a hike in indirect taxes before they approve a deal.
India has supported Christine Lagarde’s second tenure as there was no other candidate this time
India is the fastest growing emerging economy in the world, with growth rates at 7.5 per cent both in 2016-17, said Changyong Rhee, director Asia and Pacific Department, IMF.
Modi said many knowledgeable people have said that the 21st century is and shall remain the Asian Century, where India has a special place.
Jaitley was speaking at the inaugural address of the three-day ‘Advancing Asia- Investing for Future’ conference organised by the finance ministry and the International Monetary Fund.
The agency’s protections are lower than the government’s estimate of 7.6 per cent growth in 2015-16 while Reserve Bank sees economy expanding by 7.4 per cent this fiscal.
Prime Minister Narendra Modi had expressed hope, earlier in the day, that the US would ratify the quota reforms of the International Monitoring Fund, a key demand of the developing countries.
In 2008, India had to drop a proposal to borrow after China objected to a Rs 11,000 crore loan to strengthen electricity distribution and transmission in Arunachal Pradesh and Sikkim.
The RBI governor sounded a similar note of caution in Lima, Peru, a week ago on the sidelines of an IMF-World Bank meet.
Investments in the real economy are needed to ensure financial inclusion is for real.
According to the report, in India, inflation is expected to decline further in 2015, reflecting the fall in global oil and agricultural commodity prices.