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The IMF also made upward revisions to its 2024 growth forecasts for India and China, which it now expects to expand by 7% and 5% respectively — up from forecasts of 6.8% and 4.6% in April.
Abbreviation: IMF: Formation: 1 July 1944; 80 years ago (): Type: International financial institution: Purpose: Promote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties, prevent and assist with recovery from international financial crises [1]
The IMF and World Bank (two Bretton Woods institutions) require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). These policies are typically centered around increased privatization , liberalizing trade and foreign investment, and balancing government deficit. [ 2 ]
For central banks targeting inflation directly, adjusting interest rates are crucial for the monetary transmission mechanism which ultimately affects inflation. Changes in the central bank policy rates normally affect the interest rates that banks and other lenders charge on loans to firms and households.
The IMF lifted its forecast for the euro area this year by a tenth of a percent to 0.9%, driven by stronger momentum in services in the first half of the year. Growth is projected to rise to 1.5% ...
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The IFS is the IMF’s principal statistical publication, covering numerous topics of international and domestic finance. It includes, for most countries, data on exchange rates, balance of payments, international liquidity, money and banking, interest rates, prices, etc. [2] Most annual data begins in 1948, quarterly and monthly data dates back to 1957, and most balance of payments data ...
The head of the International Monetary Fund on Friday praised the European Central Bank's decision to raise interest rates for the eighth time in a row and its pledge to keep going as long as ...