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[12 Apr 2011 | No Comment | ]

The International Monetary Fund is no longer so bullish on India’s economic growth. On Monday, it lowered the growth projection for 2011 to 8.2%, as against 10.4% for 2010 when India was projected to be the fastest growing major economy ahead of China’s 10.3%. For 2011, India’s growth estimate is 140 basis points (100 basis points equal a percentage point) lower than China’s 9.6%.
India’s growth rate is expected to moderate further to 7.75% in 2012, IMF said in its April 2011 World Economic Outlook. Growth apart, the multilateral agency has …

Money Matters »

[18 Feb 2011 | No Comment | ]

SOUTH KOREA has agreed to provide a loan of US$777 million to the International Monetary Fund for lending to the poorest IMF member states, the multilateral organisation said on Wednesday.
Seoul will provide the funds to the IMF as trustee of the Poverty Reduction and Growth Trust for ‘new loan resources for low-income countries,’ the IMF said in a statement.
An IMF effort announced in July 2009 seeks more than US$1.6 billion for the program, created in 1999 with a goal of poverty reduction in its poorest member countries.