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Room for more fiscal support for India’s vulnerable households & SMEs in near term: IMF

A complete, successful implementation of the existing support measures is of paramount importance, said Vitor Gaspar, Director of IMF's Fiscal Affairs Department.
Signage is displayed outside the IMF | Alex Wroblewski/Bloomberg

IMF sees Asia’s economic pain persisting as coronavirus curbs limit recovery

While regional growth is tipped to rebound to 6.6% next year, that won’t be enough to replace all of the output lost due to the crisis. Image is fine

IMF gives a more pessimistic projection of global economy, expects GDP to shrink 4.9%

IMF chief economist Gita Gopinath said that the cumulative loss for the world economy this year and next as a result of the recession is expected to reach $12.5 trillion.
Signage is displayed outside the IMF | Alex Wroblewski/Bloomberg

IMF revises India’s growth rate to -4.5%, says projected contraction ‘a historic low’

The IMF's record reveals that this is the lowest for India since 1961. However, it said that India's economy is expected to bounce back in 2021 with 6% growth.
US dollars

India’s foreign exchange reserves rise $3.43 billion to $493.48 billion

During the week ended 29 May, RBI data showed foreign currency assets, a major component of the overall reserves, increased by $3.50 billion to $455.21 billion
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IMF believes Qatar can pull of a budget feat only few countries can

Qatar’s government revenue has yet to recover to a level it reached seven years ago, before the last oil crash, after slumping more than 30% in 2016.
Signage is displayed outside the IMF | Alex Wroblewski/Bloomberg

Global economic outlook has worsened since our last forecast 3 weeks back, IMF says

The IMF said in the World Economic Outlook report on 14 April that global gross domestic product will decline 3% this year.
KV Subramanian | Suraj Singh Bisht | ThePrint

IMF’s 1.9% growth projection for India in FY21 a reasonable estimate, says CEA Subramanian

India’s chief economic advisor says fiscal deficit only area that needs to be looked at right now, adding the stimulus package will be announced soon.

Media layoffs amid Covid-19 crisis and coronavirus doesn’t care if you’re a VIP

The best cartoons of the day, chosen by the editors at ThePrint.
Kristalina Georgieva

World economy bound to suffer severe recession due to Covid-19, warns IMF

Addressing a meeting of the IMF & World Bank, Managing Director Kristalina Georgieva said the Covid-19 pandemic had struck the world economy that was already in a fragile state.

On Camera

Uttar Pradesh CM Yogi Adityanath addresses a BJP campaign rally for the upcoming Delhi polls Monday

Who does Yogi Adityanath fear the most? There’s method to Sanjay Singh sedition madness

AAP MP Sanjay Singh was involved in a survey conducted by the party in which 63% participants said the Yogi Adityanath government was ‘casteist’.
Gunny bags of onions | Dhiraj Singh/Bloomberg

Few onion trucks enter Bangladesh after partial clearance, over 200 still stranded

A Central Board of Indirect Taxes and Customs communique stated that only those trucks which received the 'Let Export Order' till 14 September can be allowed to cross the border.

Defence

An army convoy moving towards the Zojilla pass in Drass (representational image) | ANI

Army could induct ‘another division of troops’ in eastern Ladakh as China continues build-up

China is learnt to have not only continued with troop build-up but also brought in heavier-calibre weapons with longer ranges at certain LAC locations, including in the Northeast.
Illustration: Soham Sen | ThePrint

Suspect all, fix all? Is that the motto of our new ‘National Suspicion State’?

It’s not just Modi government or BJP, but even state governments, judiciary are getting caught in a ‘we suspect all’ mindset. Is India becoming a National Suspicion State?