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Even as the Indian policymakers debate how to regulate the ever growing crypto&nbsp;universe there is a advise coming in from the IMF. Gita&nbsp;Gopinath, chief economist of the monetary fund pressed on urgent need to regulate the risks which include evasion of capital control norms in emerging economies. Here is what&nbsp;Gopinath said, delivering a lecture on 'Global Recovery and Policy Challenges in 2022' organised by National Council of Applied Economic Research (NCAER) -:The risks for emerging markets
"Crypto&nbsp;is a challenge for emerging markets as it is more attractive to adopt these in developing economies. This poses problems, risk to financial investors and saving and it also poses the risk of evasion of capital control rules.""Usually emerging developing economies have exchange rate controls, capital controls, and capital flow measures,Crypto assets and currencies can be used to evade those regulations."Urgent regulation needed"Absolutely important to regulate this sector. It should be treated with a balance of risk and rules. If it is being used to as an investment then the same kind of rules and regulations like on a securities broker/product should be imposed. If financial institute is investing in then one has to insist on buffers."Banning crypto&nbsp;is impractical"There is a practical challenge to banning a crypto&nbsp;asset.Reg.&nbsp;banning them may not work as crypto exchanges are located offshore, which makes it easier for an individual to trade in them despite the ban."The call for global pact on&nbsp;crypto&nbsp;regulation"No individual country could solve this problem on its own given the complex cross-border transactions.There is a need for a global policy on it urgently."&nbsp;
&nbsp;

Crypto call from IMF's Gita Gopinath: 'Urgent need to regulate, ban not practical'

Absolutely important to regulate this sector. It should be treated with a balance of risk and rules. If it is being used to as an investment then the same kind of rules and regulations like on a securities broker/product should be imposed.

IMF's Gita Gopinath on crypto: 'Urgent need to regulate, ban not practical'

The risk of evasion of capital control rules via crypto in Emerging Markets remains high.&nbsp;

Even as the Indian policymakers debate how to regulate the ever growing crypto&nbsp;universe there is a advise coming in from the IMF. Gita&nbsp;Gopinath, chief economist of the monetary fund pressed on urgent need to regulate the risks which include evasion of capital control norms in emerging economies. Here is what&nbsp;Gopinath said, delivering a lecture on 'Global Recovery and Policy Challenges in 2022' organised by National Council of Applied Economic Research (NCAER) -: The risks for emerging markets
"Crypto&nbsp;is a challenge for emerging markets as it is more attractive to adopt these in developing economies. This poses problems, risk to financial investors and saving and it also poses the risk of evasion of capital control rules." "Usually emerging developing economies have exchange rate controls, capital controls, and capital flow measures,Crypto assets and currencies can be used to evade those regulations." Urgent regulation needed "Absolutely important to regulate this sector. It should be treated with a balance of risk and rules. If it is being used to as an investment then the same kind of rules and regulations like on a securities broker/product should be imposed. If financial institute is investing in then one has to insist on buffers." Banning crypto&nbsp;is impractical "There is a practical challenge to banning a crypto&nbsp;asset. Reg.&nbsp;banning them may not work as crypto exchanges are located offshore, which makes it easier for an individual to trade in them despite the ban." The call for global pact on&nbsp;crypto&nbsp;regulation "No individual country could solve this problem on its own given the complex cross-border transactions.There is a need for a global policy on it urgently."&nbsp;
&nbsp;

The International Monetary Fund named its chief economist Gita Gopinath to become its second-ranking official, as she would be promoted as IMF's First Deputy Managing Director in early 2022.IMF confirmed that Indian-American Gopinath who was slated to return to her teaching post in Harvard has accepted her new role at the IMF where she has been chief economist for three years.
I am delighted that Gita has decided to stay and accept the new responsibility of being our FDMD," said Kristalina Georgieva, IMF's Managing Director.
Georgieva said Gopinath was "universally recognized as one of the world’s leading macroeconomists" and had precisely the expertise needed for the No. 2 job, given the increased macroeconomic challenges facing IMF member countries as a result of the COVID-19 pandemic.
"Indeed, her particular skill set — combined with her years of experience at the Fund as Chief Economist - make her uniquely well qualified. She is the right person at the right time," Georgieva said.A dual citizen of the United States and India, Gopinath is due to start her new role on Jan. 21,
 

Gita Gopinath elevated to No. 2 position at IMF, to take up post early next year

Gita Gopinath gives up return to Harvard as the economist is promoted to First Deputy Managing Director 

Gita Gopinath to become IMF's first deputy managing director early next year 

Gita&nbsp;Gopinath&nbsp;promoted to IMF's First Deputy Managing Director
Gopinath&nbsp;accepts new post at IMF, not to return to Harvard
IMF&nbsp;MD on Gopinath:&nbsp;She is the right person at the right time Gita&nbsp;Gopinath&nbsp;has been IMF&nbsp;chief economist for 3 years

A dual citizen of the United States and India, Gopinath is due to start her new role on Jan. 21,

The International Monetary Fund named its chief economist Gita Gopinath to become its second-ranking official, as she would be promoted as IMF's First Deputy Managing Director&nbsp;in early 2022. IMF&nbsp;confirmed that Indian-American Gopinath&nbsp;who was slated to return to her teaching post in Harvard has accepted her new role at the IMF&nbsp;where she has been chief economist for three years.
I am delighted that Gita has decided to stay and accept the new responsibility of being our FDMD," said Kristalina Georgieva, IMF's Managing Director.
Also watch:&nbsp;<a href="https://www.editorji.com/india-news/india-stands-out-in-terms-of-its-vaccine-policy-imf-s-gita-gopinath-1615253088348" target="_blank">India stands out in terms of its vaccine policy: IMF's Gita Gopinath</a>
Georgieva said Gopinath was "universally recognized as one of the world&rsquo;s leading macroeconomists" and had precisely the expertise needed for the No. 2 job, given the increased macroeconomic challenges facing IMF member countries as a result of the COVID-19 pandemic.
"Indeed, her particular skill set &mdash; combined with her years of experience at the Fund as Chief Economist - make her uniquely well qualified. She is the right person at the right time," Georgieva said. A dual citizen of the United States and India, Gopinath is due to start her new role on Jan. 21.
&nbsp;

International Monetary Fund Managing Director Kristalina Georgieva was called out on Thursday by the World Bank, her previous employer, for applying pressure to boost China&rsquo;s position in a ranking of economies.
Her statement comes after the&nbsp;World Bank&nbsp;canceled a prominent report rating the business environment of the world&rsquo;s countries after an investigation concluded that senior bank management pressured staff to alter data affecting the ranking of China and other nations.
Georgieva said she disagreed with the findings, compiled by an outside law firm at the World Bank&rsquo;s direction.
China&rsquo;s position in the 2018 report, released in October 2017, should have been seven places lower -- at No. 85 rather than remaining at 78 -- the World Bank said in a&nbsp;review released&nbsp;in December.
&nbsp;

World Bank discontinues 'Ease Of Doing Business', were the ratings skewed to China?

World Bank discontinues 'Ease Of Doing Business'; were the ratings skewed to China?

World Bank discontinues 'Ease Of Doing Business' reports after probe finds to favour China

The World Bank Group on Thursday announced that it will discontinue its &lsquo;Doing Business&rsquo; reports, an annual flagship report that the international financial institution has been publishing since 2002.
The statement from the group&nbsp;comes after a probe of data irregularities allegedly due to pressure by some top bank officials to boost China's ranking in 2017.&nbsp;
The financial institution remains firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this, World Bank said.
&ldquo;Doing Business Report&rdquo; was used to drive policy and regulatory changes favorable to businesses and corporations.
India has improved its ranking by 79 positions in five years (2014-19). In the recent World Bank&rsquo;s ease of doing business 2020 report, India&nbsp;jumped to 63rd position, among 190 nations.

The findings of the investigation revealed that top World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied &ldquo;undue pressure&rdquo; on staff to boost China&rsquo;s ranking in the bank&rsquo;s &ldquo;Doing Business 2018&rdquo; report.

The World Bank Group on Thursday announced that it will discontinue its &lsquo;Doing Business&rsquo; reports, an annual flagship report that the international financial institution has been publishing since 2002.
The statement from the group&nbsp;comes after a probe of data irregularities allegedly due to pressure by some top bank officials to boost China's ranking in 2017.&nbsp;
Also watch:&nbsp;<a title="El Salvador Protest: 'No to Bitcoin' slogan gains traction as President faces backlash" href="https://www.editorji.com/story/el-salvador-protest-no-to-bitcoin-slogan-gains-traction-as-president-faces-backlash-1631857725079">El Salvador Protest: 'No to Bitcoin' slogan gains traction as President faces backlash</a>
The financial institution remains firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this, World Bank said..
An explosive report to the Bank&rsquo;s Board of Executive Directors, Investigation of Data Irregularities in Doing Business 2018 and Doing Business 2020, revealed how senior Bank officials applied pressure to manipulate data in order to improve rankings for select countries. The irregularities in Doing Business reports had affected four countries: China; Saudi Arabia; United Arab Emirates; and Azerbaijan as per the report.&nbsp; China had a score of 65.3 with a global ranking of 78, similar to the previous year&rsquo;s. After the corrections in data for indicators like Starting a Business, Getting Credit, and Paying Taxes indicators, China&rsquo;s score fell to 64.5 and global ranking to 85.&nbsp;
&nbsp;

Cryptocurrency : President Nayib Bukele even taunted the International Monetary Fund as he thanked the organisation for the dip in the Bitcoin prices.

Bitcoin Day: El Salvador's Nayib Bukele buys the dip, taunts IMF

As El Salvador becomes the first nation to formalize cryptocurrency&nbsp;Bitcoin&nbsp;as its legal tender, President Nayib&nbsp;Bukele&nbsp;was seen following 'buy the dip' strategy a bit too seriously.

Nayib Bukele buys the Bitcoin dip, taunts IMF

Bitcoin&nbsp;prices, in the last 24 hours, fell from as high as $52,700 to touch a low of $43,285.

As El Salvador becomes the first nation to formalize cryptocurrency&nbsp;Bitcoin&nbsp;as its legal tender, President Nayib&nbsp;Bukele&nbsp;was seen following 'buy the dip' strategy a bit too seriously.
"Buying the dip... 150 new coins added," Nayib&nbsp;Bukele&nbsp;tweeted as the South American nation celebrates&nbsp;Bitcoin&nbsp;Day.&nbsp;He added that El Salvador now holds 500 Bitcoins&nbsp;as it had added 400 previously in two tranches.
Bitcoin&nbsp;prices, in the last 24 hours, fell from as high as $52,700 to touch a low of $43,285. Although, it was now trading above $46,000.
Also Read:&nbsp;<a href="https://www.editorji.com/story/cryptocurrency-bitcoin-faces-it-s-biggest-test-as-it-becomes-a-legal-tender-in-el-salvador-1631003951213" target="_blank">Cryptocurrency Bitcoin faces it's biggest test as it becomes a legal tender in El-Salvador</a>
President Nayib&nbsp;Bukele&nbsp;even taunted the International Monetary Fund as he thanked the organisation for the dip in the Bitcoin&nbsp;prices.
Crypto experts, however, blame a mass liquidation of leveraged positions for the recent crash in <a href="https://www.editorji.com/story/bitcoins-make-their-way-into-cricket-match-fixing-betting-1618552811754" target="_blank">Bitcoin&nbsp;</a>prices.

In a recent blow to the new Afghan&nbsp;regime, the International&nbsp;Monetary Fund (IMF) has blocked the troubled&nbsp;nation&nbsp;from using almost&nbsp;half a billion dollars of reserves.
Afghanistan was set to receive $455 million of special drawing rights or SDRs&nbsp;from the global lender, however, the recent cut-off&nbsp;has&nbsp;followed a takeover by the Taliban.
As per some reports,&nbsp;the Biden administration had been taking steps to prevent the Taliban from being able to use the IMF-allocated reserves.&nbsp;The U.S. has also frozen nearly $9.5 billion in assets belonging to the Afghan central bank and stopped shipments of cash to the nation.
Also watch:&nbsp;Biden on U.S. withdrawal from Afghanistan: 'there are greater threats than Taliban'
An official from the Biden&nbsp;administration also said that any central bank assets that the Afghanistan government has in the U.S. will not be available to the Taliban.
Also watch:&nbsp;Biden administration suspends all arms sales to Afghanistan
The IMF&nbsp;had recently approved a plan to inject&nbsp;$650 billion of liquidity into the upset global economy to help them fund the pandemic healthcare spending.
This is a big hit to an already reeling economy whose almost three-quarters of nearly 40 million citizens live in rural areas.
Also watch:&nbsp;Stuck in Afghanistan, Indian man posts SOS video for the govt

IMF blocks $455 million of funds to Afghanistan

In a blow to the Taliban, the IMF&nbsp;has blocked the troubled&nbsp;nation&nbsp;from using almost&nbsp;half a billion dollars of reserves. This follows a similar U.S. action to squeeze the militant group.&nbsp;

In a recent blow to the new Afghanistan&nbsp;after the Taliban takeover, the International&nbsp;Monetary Fund has blocked the war-torn nation&nbsp;from using almost&nbsp;half a billion dollars of reserves. Afghanistan was set to receive $455 million of special drawing rights or SDRs&nbsp;from the global lender, however, the recent cut-off&nbsp;has&nbsp;followed a takeover by the Taliban. As per some reports,&nbsp;the Joe&nbsp;Biden administration had been taking steps to prevent the Taliban from being able to use the IMF-allocated reserves.&nbsp; The U.S. has also frozen nearly $9.5 billion in assets belonging to the Afghan central bank and stopped shipments of cash to the nation.

The U.S. has also frozen nearly $9.5 billion in assets belonging to the Afghan central bank

In a recent blow to the new Afghan&nbsp;regime, the International&nbsp;Monetary Fund (IMF) has blocked the troubled&nbsp;nation&nbsp;from using almost&nbsp;half a billion dollars of reserves.
Afghanistan was set to receive $455 million of special drawing rights or SDRs&nbsp;from the global lender, however, the recent cut-off&nbsp;has&nbsp;followed a takeover by the Taliban.
As per some reports,&nbsp;the Biden administration had been taking steps to prevent the Taliban from being able to use the IMF-allocated reserves.&nbsp;The U.S. has also frozen nearly $9.5 billion in assets belonging to the Afghan central bank and stopped shipments of cash to the nation.
Also watch:&nbsp;<a href="https://www.edtr.ai/a6ck" target="_blank">Biden on U.S. withdrawal from Afghanistan: 'there are greater threats than Taliban'</a>
An official from the Biden&nbsp;administration also said that any central bank assets that the Afghanistan government has in the U.S. will not be available to the Taliban.
Also watch:&nbsp;<a href="https://www.edtr.ai/a6b5" target="_blank">Biden administration suspends all arms sales to Afghanistan</a>
The IMF&nbsp;had recently approved a plan to inject&nbsp;$650 billion of liquidity into the upset global economy to help them fund the pandemic healthcare spending.
This is a big hit to an already reeling economy whose almost three-quarters of nearly 40 million citizens live in rural areas.
Also watch:&nbsp;<a href="https://www.edtr.ai/a6az" target="_blank">Stuck in Afghanistan, Indian man posts SOS video for the govt</a>

The IMF&nbsp;may not have changed the headline figure of global growth of 6% but the story lies behind the number. The composition of global growth has seen a dramatic change.&nbsp;IMF warns that the fault lines are widening between advanced economies with access to vaccines vs developing economies that are struggling with inoculations.&nbsp;IMF&nbsp;chief Gita&nbsp;Gopinath&nbsp;writes in the outlook report that&nbsp;"Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up."This trend is evident as&nbsp;IMF&nbsp;sees the US economy driving global growth with a&nbsp;7% print in 2021 and a 4.9% growth in 2022.China as well is projected to see a 8.1% growth followed by 5.7% growth over the next two years.&nbsp;The real concern comes in for&nbsp;India that has seen the largest downgrade to growth now down to 9.5% in the current year and 8.5% the next year.&nbsp;But this is not the worst case scenario,&nbsp;IMF&nbsp;warns that "a double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook&rsquo;s baseline."
The big worry globally is now the inflation monster and the IMF&nbsp;is hoping that from the Fed to the emerging market central bankers will look through this phase and not act in haste as it states, "Central banks should generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics."
&nbsp;

IMF warns fault lines are widening globally, US growth estimated raised, India faces GDP downgrade

Global growth outlook remains the same but India sees a 300 bps downgrade in growth from IMF. Are the global fault lines widening or is the concern overrated?

IMF: Fault Lines Are Widening

The IMF&nbsp;may not have changed the headline USE IMF&nbsp;gfx&nbsp;(main growth gfx) figure of growth the story lies behind the number. The composition of global growth has seen a dramatic change. USE IMF&nbsp;gfx&nbsp; As IMF says the fault lines are widening between advanced economies with access to vaccines vs developing economies that are struggling with inoculations.&nbsp; Make Quote&nbsp; IMF&nbsp;chief Gita&nbsp;Gopinath&nbsp;writes in the outlook report that&nbsp;"Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up."
 USE IMF&nbsp;gfx that is evident as&nbsp;IMF&nbsp;sees the US economy driving global growth with a&nbsp;7% print in 2021 and a 4.9% growth in 2022. Change gfx&nbsp; China as well is projected to see a 8.1% growth followed by 5.7% growth over the next two years.&nbsp; Change&nbsp; The real it comes in for India that has seen the largest downgrade to growth now down to 9.5% in the current year and 8.5% the next year.&nbsp; Change&nbsp; But this is not the worst case scenario, IMF&nbsp;warns&nbsp; A double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook&rsquo;s baseline.&nbsp; Change&nbsp;
The big worry globally is now the inflation monster and the IMF&nbsp;is hoping that from the Fed to the emerging market central bankers will look through this phase and not act in haste Quote Gfx&nbsp; &nbsp;"Central banks should generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics."
&nbsp;

IMF&nbsp;downgrades India's growth forecast to 9.5% down 300 bps from April projection.&nbsp;

The IMF&nbsp;may not have changed the headline figure of global growth of 6% but the story lies behind the number. The composition of global growth has seen a dramatic change.&nbsp;IMF warns that the fault lines are widening between advanced economies with access to vaccines vs developing economies that are struggling with inoculations.&nbsp; IMF&nbsp;chief Gita&nbsp;Gopinath&nbsp;writes in the outlook report that&nbsp;"Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up." This trend is evident as&nbsp;IMF&nbsp;sees the US economy driving global growth with a&nbsp;7% print in 2021 and a 4.9% growth in 2022.China as well is projected to see a 8.1% growth followed by 5.7% growth over the next two years.&nbsp; The real concern comes in for&nbsp;India that has seen the largest downgrade to growth now down to 9.5% in the current year and 8.5% the next year.&nbsp; But this is not the worst case scenario,&nbsp;IMF&nbsp;warns that "a double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook&rsquo;s baseline."
The big worry globally is now the inflation monster and the IMF&nbsp;is hoping that from the Fed to the emerging market central bankers will look through this phase and not act in haste as it states, "Central banks should generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics."
&nbsp;

The International Monetary Fund says about $50 billion may be all it takes to vaccinate all eligible people around the world by the middle of next year. The IMF has proposed an investment programme that could have a global economic benefit of around $9 trillion.
The detailed research piece prepared by the IMF Chief Economist Gita Gopinath and colleague Ruchir Agarwal suggests that the goal is to vaccinate 40% of all countries by 2021 and the remaining 60% by the first half of 2022.
The benefit to developed countries - which would have to fund a great deal of this - would be to the tune of $1 trillion in additional tax revenue apart from 40% of the cumulative $9 trillion in global GDP gains. The proposal's total cost of around $50 billion would include grants, national government resources, and concessional financing.

IMF offers $50 billion plan to vaccinate everyone by mid-2022

IMF offers $50 billion proposal to vaccinate all eligible people globally&nbsp;by mid-2022

IMF&nbsp;offers $50mn plan&nbsp;to vaccinate all eligible by mid 2022
Plan could have a global economic benefit of $9 trillion: IMF
Goal is to vaccinate 40% of all countries by 2021: IMF
Developed countries would benefit in additional tax revenue
40% of the cumulative $9 trillion will be global GDP gains
Proposal includes grants, govt resources,&nbsp;concessional financing

The International Monetary Fund says about $50 billion may be all it takes to vaccinate all eligible people around the world by the middle of next year. The IMF has proposed an investment programme that could have a global economic benefit of around $9 trillion.
The detailed research piece prepared by the IMF Chief Economist Gita Gopinath and colleague Ruchir Agarwal suggests that the goal is to vaccinate 40% of all countries by 2021 and the remaining 60% by the first half of 2022.
The benefit to developed countries - which would have to fund a great deal of this - would be to the tune of $1 trillion in additional tax revenue apart from 40% of the cumulative $9 trillion in global GDP gains. The proposal's total cost of around $50 billion would include grants, national government resources, and concessional financing.

As India continues to report record high covid&nbsp;cases and fatalities, brokerages and think tanks rework this years economic reality. IMF&nbsp;is now looking at reducing India's growth projection from the optimistic 12.5% for this year.&nbsp;
"We're all watching what is happening in India with concern," IMF&nbsp;spokesperson&nbsp;Gerry Rice said. "There will be spillovers ... contingent on how deep and how long the severity of this crisis continues."S&amp;P ratings has already reworked India's growth projection to below the 10% mark along with brokerages such as UBS, Goldman Sachs.
India reported a record 4.12 lakh new COVID-19 cases on Thursday and a record 3,980 deaths, as a second wave of infections swamped its healthcare system.

IMF gears to slash India's growth outlook as recovery gets derailed 

IMF&nbsp;to be the latest entrant after S&amp;P, Goldman Sachs to reduce India's growth outlook

<ul>
<li>IMF To review India's growth projection as covid cases rise</li>
<li>IMF: There will be economic spillovers&nbsp;in India, watching closely</li>
<li>S&amp;P ratings, UBS, Goldman Sachs have already lowered India's GDP&nbsp;est</li>
<li>India reported 4.12 lakh&nbsp;new covid&nbsp;cases, record 3,980 deaths</li>
</ul>

As India continues to report record-high covid&nbsp;cases and fatalities, brokerages and think tanks rework this year's economic reality. IMF&nbsp;is now looking at reducing India's growth projection from the optimistic 12.5% for this year.&nbsp;
"We're all watching what is happening in India with concern," IMF&nbsp;spokesperson&nbsp;Gerry Rice said. "There will be spillovers ... contingent on how deep and how long the severity of this crisis continues." S&amp;P ratings have already reworked India's growth projection to below the 10% mark along with brokerages such as UBS, Goldman Sachs.
India reported a record 4.12 lakh new COVID-19 cases on Thursday and a record 3,980 deaths, as the second wave of infections swamped its healthcare system.

India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy, Chief Economist of the IMF Gita Gopinath said on Monday. She hailed the country for playing a very important role during the crisis by manufacturing and shipping the Covid-19 vaccines to several nations. Gopinath made the comments in an interactive session during the Inaugural Dr. Hansa Mehta Lecture organised on occasion of International Women's Day. Gopinath noted that India has been providing vaccines through grants to several of its neighbour countries and through commercial arrangements as well.Gopinath also lauded the Serum Institute of India, saying it produces the most number of vaccines in the world in a regular year and has been manufacturing the Covid-19 vaccine doses that are delivered to COVAX and then distributed to countries around the world.

India stands out in terms of its Covid-19 vaccine policy: IMF's Gita Gopinath

India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy: Chief Economist of the IMF Gita Gopinath

India stands out in terms of its vaccine policy: IMF's Gita Gopinath

India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy, Chief Economist of the IMF Gita Gopinath said on Monday. She hailed the country for playing a very important role during the crisis by manufacturing and shipping the COVID-19 vaccines to several nations. Gopinath made the comments in an interactive session during the Inaugural Dr. Hansa Mehta Lecture organised on occasion of International Women's Day. GOpinath noted that India has been providing vaccines through grants to several of its neighbour countries and through commercial arrangements as well.

India has been at the forefront in fighting the coronavirus pandemic and "really stands out" in terms of its vaccine policy, Chief Economist of the IMF Gita Gopinath said on Monday. She hailed the country for playing a very important role during the crisis by manufacturing and shipping the Covid-19 vaccines to several nations. Gopinath made the comments in an interactive session during the Inaugural Dr. Hansa Mehta Lecture organised on occasion of International Women's Day. Gopinath noted that India has been providing vaccines through grants to several of its neighbour countries and through commercial arrangements as well. Gopinath also lauded the Serum Institute of India, saying it produces the most number of vaccines in the world in a regular year and has been manufacturing the Covid-19 vaccine doses that are delivered to COVAX and then distributed to countries around the world.

Why Bangladesh’s economy is growing much faster than others | BOOM

IMF has projected that India's per capita GDP will slip below Bangladesh in 2020. It is largely being attributed to the lockdown and the pandemic which has affected the world. Why is Bangladesh economy growing even when the rest of the world is faltering? BOOM Explains.
Ahsan H Mansur, Executive Director, Policy Research Institute of Bangladesh and Chairman, BRAC Bank says that macroeconomic stability has been a cornerstone of Bangladeshi economic planning and that has helped sustained growth. It has also maintained exchange rate stability relative to Indian currency. Bangladesh also has a controlled fiscal deficit at about 3.5-4.5% despite the fiscal target set at 5%. It helps anchor the inflation rate, exchange rate stability as well as exports.
He also says that the Bangladesh exports had started recovering from May. By July-August, Bangladesh had bounced back to similar export volumes by the same corresponding period in 2019. The government also helped garment industries to pay their workers through the lockdown to ensure that there were no hindrances in keeping the industry afloat.
Watch BOOM's Govindraj Ethiraj interview Ahsan H Mansur on the Bangladesh economy, Indian economy, world trade relations and the reasons why Bangladesh economy is growing better than any other comparable economy.

'Even Pak handled Covid better': Rahul's dig at govt

Rahul Gandhi took a dig at the Centre over IMF's projection of a 10.3% contraction in&nbsp;Indian economy, saying it was another "solid achievement" by the Modi government

Congress leader Rahul Gandhi took a dig at the Centre on Friday over IMF's projection that the Indian economy is set to contract by a massive 10.3 per cent this year, saying it was another "solid achievement" by the government.&nbsp;Gandhi tweeted a swipe at the government by tagging a chart that showed IMF growth projections for 2020-21 for Bangladesh, Myanmar, Nepal, China, Bhutan, Pakistan, Sri Lanka, Afghanistan and India.&nbsp;"Another solid achievement by the BJP government. Even Pakistan and Afghanistan handled Covid better than India," Gandhi tweeted.

New Delhi, PTI: Congress leader Rahul Gandhi took a dig at the Centre on Friday over IMF's projection that the Indian economy is set to contract by a massive 10.3 per cent this year, saying it was another "solid achievement" by the government.
Gandhi tweeted a swipe at the government by tagging a chart that showed IMF growth projections for 2020-21 for Bangladesh, Myanmar, Nepal, China, Bhutan, Pakistan, Sri Lanka, Afghanistan and India.
The chart showed that the Indian economy is projected to contract by a massive 10.3 per cent this year, the highest contraction among the countries mentioned.
"Another solid achievement by the BJP government. Even Pakistan and Afghanistan handled Covid better than India," Gandhi tweeted with the chart.
The former Congress chief on Wednesday had also taken a dig at the government over IMF growth projections showing Bangladesh closing in on India in terms of per capita GDP this year and described it as a "solid achievement" of six years of BJP's "hate-filled cultural nationalism".
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund had said on Tuesday.
However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said in its latest 'World Economic Outlook' report.

Bangladesh set to overtake India in per capita GDP | BOOM | IMF report 

The IMF has said that India is set to slip below Bangladesh in per capita GDP. Bangladesh will be up 4% than India. What does this mean for Indian economy and what can it potentially lead to? BOOM Explains.
Madan Sabnavis, Chief Economist, CARE Ratings says that IMF Report clearly says that India is one of the worst performing economies globally. The lockdown has had a very negative effect on the economy which gets reflected in the numbers that the IMF, RBI and World Bank are citing. In retrospect it is easier to say we shouldn't have announced a lockdown so soon but it was the sensible thing to do at the time in March.
He also says that when GDP comes down, it encapsulates loss of investments, income, jobs and spending coming down. Even if we grow at 8.5% or 9%, the Indian economy will still go back to 2019 levels. The prospects of consumer demand rising are still low.
Watch BOOM's Govindraj Ethiraj interview Madan Sabnavis on the 5 trillion economy India wants to be and the current economic scenario in India.

IMF forecast: Rahul blames BJP's hate-filled nationalism

Congress leader Rahul Gandhi on Wednesday took a jibe at the&nbsp;government over the latest&nbsp;IMF growth projections showing Bangladesh beating India in terms of per capita&nbsp;GDP.
The opposition leader said it was a 'solid achievement' of six years of BJP's 'hate-filled cultural nationalism'.
The IMF sees India's per capita GDP&nbsp;falling to $1,877 in 2020. For Bangladesh, the corresponding figure is seen growing to $1,888. If IMF's forecast hits the mark, that will leave India just ahead of Pakistan and Nepal in the South Asia region.

Rahul Gandhi attacks BJP as Bangladesh economy set to beat India 

IMF: India's GDP&nbsp;seen at $1,877 in 2020
Bangladesh economy may do better than India
Rahul&nbsp;Gandhi's swipe after IMF&nbsp;forecast&nbsp;
Rahul&nbsp;blames BJP's&nbsp;hate-filled nationalism

Congress leader Rahul Gandhi on Wednesday took a jibe at the&nbsp;government over the latest&nbsp;IMF growth projections that show Bangladesh is set to beat India in terms of per capita&nbsp;GDP.
The IMF sees India's per capita GDP&nbsp;falling to $1,877 in 2020. For Bangladesh, the corresponding figure is seen growing to $1,888. If IMF's forecast hits the mark, India will only be ahead of Pakistan and Nepal in the South Asia region.
The opposition leader hit out at the government saying it was the doing of BJP's 'hate-filled cultural nationalism'.

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