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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC) of the Board of Governors of the International Monetary Fund (IMF) at the Annual Meetings 2021 held in Washington D.C. on 14th October 2021. International Monetary and Financial Committee It is the Ministerial-level committee of the International Monetary Fund (IMF). It meets twice a year, onc
World Economic Outlook WEO is a survey by the IMF that is usually published twice a year in the months of April and October. It analyzes and predicts global economic developments during the near and medium term. In response to the growing demand for more frequent forecast updates, the WEO Update is published in January and July between the two main WEO publications released usually in April and October. WEO update has projected a sharp contraction of 4.5 % in FY21, a st
International Monetary Fund (IMF) Paper-2 I.O Economics The International Monetary Fund (IMF) is an organization of 189 member countries, each of which has representation on the IMF's executive board in proportion to its financial importance, so that the most powerful countries in the global economy have the most voting power. Objective Foster global monetary cooperation Secure financial stability Facilitate international trade Promote high employment and sustainable ec
Hope amid uncertainty: On IMF’s World Economic Outlook Context: IMF in its latest World Economic Outlook has called for more international cooperation as the world economy recovers slowly. COVID-19 has already claimed over a million lives. The pandemic has led to the loss of livelihoods and a fall in output in economies. IMF sums up the challenges ahead in the report’s title: ‘A long and difficult ascent’. News: The Fund’s economists have sou
International Monetary Fund (IMF) HQ is Washington DC. Head is Kristilina Georgiva. India is a founding member. 189 members. IMF is a cooperative institution. Functions of IMF Majorly for exchange rate stability, deciding exchange rate, distinctions between hard and soft currency, issuing paper gold and SDR mainly to tackle crisis. Responsible for predicting World GDP, growth rate, both for developed and developing countries separately. IMF works to control inequalit
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