INTERNATIONAL MONETARY FUND
Finance Secretary moots rating state govt debt
Finance Secretary Ajay Seth proposed rating state government securities based on fiscal behavior to encourage financial discipline. He highlighted the need for a market-driven mechanism to differentiate borrowing costs and curb off-budget borrowings. Seth also mentioned India's push for improved governance indicators at the World Bank and emphasized private sector-led growth with government facilitation.
India to ask IMF & other global multilateral agencies to review loans, grants to Pakistan: Source
India has requested the International Monetary Fund to review loans given to Pakistan. This comes amid rising tensions after an attack in Kashmir. India accuses Pakistan of involvement, which Pakistan denies. The IMF program is crucial for Pakistan's economy. Despite tensions, Pakistan asserts its economic program is on track.
India’s forex reserves up by $1.98 bn to $688.13 bn as of April 25
India's foreign exchange reserves rose for the eighth straight week, reaching $688.13 billion as of April 25, according to data released by the Reserve Bank of India (RBI) on Friday. The reserves grew by $1.98 billion during the week.
Poonam Gupta takes charge as RBI deputy governor, to be part of MPC
Poonam Gupta has assumed her role as the new deputy governor at the Reserve Bank of India, joining the Monetary Policy Committee. With extensive experience at the World Bank and IMF, she will oversee key departments and contribute to monetary policy decisions. Gupta's expertise is crucial amidst global economic challenges and fluctuating inflation rates.
Tariffs, oil prices and other uncertainties weighing down Mideast economies, IMF says
The International Monetary Fund warned that Middle East and North Africa face economic challenges due to lower oil prices, tariff measures, and reduced foreign aid, forecasting 2.6% growth this year, while urging countries to devise policies to protect their economies and drive growth through structural reforms.
BOJ keeps rates steady, cuts growth forecasts
The Bank of Japan maintained its interest rates at 0.5% but lowered economic growth predictions due to uncertainties surrounding U.S. tariffs. While core consumer inflation forecasts were also reduced, the BOJ anticipates inflation to remain around 2% through fiscal year 2028, suggesting potential rate hikes will continue. Markets are closely monitoring how U.S. tariffs will affect the BOJ's rate-hike strategy.
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India may oppose $1.3 billion IMF loan to Pakistan
India is considering opposing a $1.3 billion IMF loan to Pakistan, citing concerns about misuse of funds and support for terrorism. The IMF board is scheduled to discuss the loan and review Pakistan's existing $7 billion bailout package. India had previously abstained from voting on the bailout but may now vote against it, highlighting cross-border terrorism concerns.
IMF to review Pakistan's $1.3 bn package on May 9
The IMF Executive Board is scheduled to meet on May 9 to discuss Pakistan's USD 1.3 billion climate resilience loan and the first review of its USD 7 billion bailout package. Approval would unlock a USD 1 billion tranche, crucial for stabilizing Pakistan's economy.
India's growth outlook at risk from trade tensions and geopolitical risks: Finance Ministry
India's economic growth faces headwinds from trade tensions and geopolitical risks in fiscal year 2025/26, potentially disrupting supply chains and inflating prices, according to a finance ministry report. The IMF has also lowered India's growth forecast to 6.2%, citing increased global uncertainty. The government urges swift action to mitigate risks and boost private investment through debt reduction.
Expect India to strongly oppose IMF assistance to Pakistan: Congress
The Congress party has urged India to strongly oppose a proposed $1.3 billion loan from the IMF to Pakistan. The IMF executive board is scheduled to meet on May 9th to consider Pakistan's request under the Resilience and Sustainability Facility. This request comes after Congress condemned Pakistan for the Pahalgam attack, viewing it as an assault on India's core values.
One of first US trade deals may be with India: Scott Bessent
Speaking to reporters after two early morning TV interviews, Bessent said the first such trade agreement might come this week or next, but gave no further details. He told Fox News that President Donald Trump will be "intimately involved" in each of the bespoke trade deals with each of 15 to 18 important trading partners, but it will be important to reach agreements in principle soon.
Past US aid to Ukraine not included in minerals deal, Kyiv says
Ukraine's Prime Minister Denys Shmyhal announced that past US aid to Kyiv won't be included in the upcoming minerals deal with Washington. Following meetings with US Treasury Secretary Scott Bessent, Shmyhal emphasised the agreement's compliance with European obligations and Ukrainian law.
BRICS set to meet over Trump trade policies
Senior diplomats from BRICS nations are convening in Brazil to strategize a unified response to escalating trade tensions fueled by US President Donald Trump's protectionist policies. The meeting occurs amidst concerns over the global economic impact of these tariffs, with the IMF recently downgrading growth forecasts.
Oil edges up despite murky economic outlook, potential OPEC+ supply hike
Oil prices saw a slight increase in early trading. However, trade talk uncertainties between the U.S. and China continue to weigh on the market. The prospect of OPEC+ potentially increasing supply adds to the gloom. Conflicting signals from Donald Trump and Beijing regarding trade progress are also impacting the market.
Trump cabinet members clash on tariff talks with China
Donald Trump's cabinet sent mixed signals regarding trade negotiations with China. This happened amid fears of a recession. Trump claimed talks were ongoing, but China denied it. Treasury Secretary Scott Bessent had interactions with Chinese counterparts but did not discuss tariffs. Agriculture Secretary Brooke Rollins said daily conversations were happening.
Big feud within Donald Trump cabinet! Officials clash over China tariff talks
Donald Trump's erratic, and often confusing, rollout of tariffs has hit countries ranging from the largest U.S. trading partners, like Canada, Mexico and China.
Charting the global economy: US dollar slide evocative of Nixon
Donald Trump's trade policies, aimed at bolstering domestic manufacturing, are impacting the global economy. The US dollar is experiencing its weakest performance since Nixon's era, while forecasts predict a slowdown in US economic growth due to trade tensions.
IMF steering committee says Fund must continue to focus on core mandates
The International Monetary Fund's steering committee emphasized the importance of focusing on core mandates like trade and growth. Addressing global debt vulnerabilities, especially in low-income countries, remains a key priority. Discussions on Syria highlighted the urgency of transforming conflict into stability and economic success, benefiting the region and the world through collaborative efforts.
India's forex reserves rise by $8.31 billion to $686.15 billion as of April 18
India's foreign exchange reserves witnessed a significant increase of $8.31 billion, reaching $686.15 billion as of April 18, 2025, according to the Reserve Bank of India. This surge was driven by increases in foreign currency assets, gold reserves, and Special Drawing Rights. The RBI actively monitors forex markets and intervenes to maintain stability in the rupee's exchange rate.
IMF warns of 'intensified' risks to public finances amid US trade war
Donald Trump's tariff plans have increased the risks to public finances, the International Monetary Fund said Wednesday, warning countries to get their spending plans under control and prepare for "sharper" trade-offs. "Fiscal policy now faces a sharper trade-off between reducing debt, building buffers against uncertainties and accommodating spending pressures, all amidst weaker growth prospects, higher financing costs, and heightened risks," it added.
US tariffs could shave up to half a percentage point off India GDP, says finance secretary
India's Finance Secretary Ajay Seth indicated that tariffs imposed by the Trump administration could reduce India's GDP growth by 0.2-0.5 percentage points. While projecting a current growth rate of 6.5%, Seth expressed concerns about trade-related global slowdown. He also mentioned ongoing trade negotiations with the U.S. aiming for a potential 7% growth rate in the next decade.
Trump tariffs have increased financial stability risks: IMF
The IMF's recent report indicates that President Trump's tariff policies have significantly increased global financial instability. This is due to tighter financial conditions and heightened economic uncertainty, exacerbated by retaliatory measures from China. The report highlights vulnerabilities like high asset valuations, leveraged financial institutions, and potential sovereign bond market turbulence.
US, China tariffs need to fall for trade talks to start, US secretary Bessent says
US Treasury Secretary Scott Bessent signaled that current high tariffs between the US and China must be reduced for trade talks to progress. Speaking at IMF meetings, he emphasised mutual tariff cuts as key to rebalancing. Bessent expects clarity on tariff levels by Q3 and remains optimistic about US growth despite IMF downgrades.
Donald Trump says he has no plans to fire Fed's Jerome Powell; market jumps
President Donald Trump has confirmed he will not fire Federal Reserve Chair Jerome Powell, despite days of public criticism over interest rates. This easing of tensions lifted investor sentiment, while Trump hinted at potential tariff cuts in a future China deal. However, financial markets remain cautious, with concerns over Fed independence and the broader impact of Trump’s trade policies.
'Already seen Donald Duck several times': Colombian President brutally mocks Trump, says US revoked his visa
Colombian President Gustavo Petro claimed that the Trump administration has revoked his US visa and also took a potshot at the US President Donald Trump. I can’t go [to the US] anymore because I believe they took away my visa,” Petro said, adding that he has already seen "Donald Duck several times".
IMF warns of larger losses for US, China in 2026 and beyond due to trade war
Trump Tariff Growth Hit: The International Monetary Fund has reduced its global growth prediction. This is due to US-China trade tensions. The IMF expects 2.8 percent growth in 2025. A 3.0 percent growth is expected in 2026. These figures are lower than previous forecasts. Escalating tariffs are impacting the global economy. The IMF warns of further economic damage.
AI economic gains likely to outweigh emissions cost, says IMF
The IMF projects AI will boost global GDP by 0.5% annually from 2025 to 2030, outweighing its carbon costs. However, benefits won’t be evenly shared. Rising energy demands from AI could triple electricity use, but sustainable policies and targeted action are needed to ensure equitable, environmentally conscious AI deployment.
IMF cuts India’s growth forecast to 6.2% in FY26 amid tariff uncertainty
The IMF has revised India's FY26 GDP growth forecast downwards to 6.2% due to trade tensions and US tariffs, with a further reduction to 6.3% projected for FY27. Despite these adjustments, India's growth is expected to lead emerging and advanced economies. Global growth projections have also been lowered, with tariffs impacting inflation and economic performance worldwide.
First shockwaves of Trump’s tariffs are about to hit the world economy
Global economic forecasts are being revised downwards due to trade tensions initiated by US tariffs, with the IMF expected to lower growth projections. Central banks are adopting a cautious approach, awaiting greater clarity amidst the uncertainty.
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