Govt, RBI term IMF’s exchange rate re-classification as arbitrary. They also disagree with its assertion that India’s general govt debt-GDP ratio could exceed 100% of GDP in medium term.
The IMF also projected India’s economy will grow at 6.3% in both the current fiscal year and the next, below the RBI’s forecast of 7% in the current year.
IMF's World Economic Outlook suggests growth slowdown in current year is concentrated in advanced economies, while emerging & developing economies are likely to lead global growth.
IMF has increased its growth projection by 0.2 percentage points, but tightening of monetary policy world over & rising debt distress among developing nations could drag down growth.
IMF executive board is scheduled to meet on 12 July to approve $3 billion SBA with Pakistan. But there are doubts whether this will stave off default, or just push issue to 2024.
In an interaction with ThePrint team, High Commissioner Milinda Moragoda discussed topics including Sri Lanka's economic crisis and the need for a 'strategic partnership' with India.
India's growth has been revised downwards to 5.9% for 2023, largely in keeping with global activity. However, high debt levels mean large parts of revenue will go in interest payments.
By David Lawder and Xinghui Kok SINGAPORE/WASHINGTON (Reuters) - The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the
Findings are of relevance for RBI, which has followed inflation targeting policies since 2016 but had to write to govt in December 2022 explaining why inflation had overshot target.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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