Global Economy Current Affairs, GK & News

IMF World Economic Outlook- Update

On July 27th the International Monetary Fund has cut India’s GDP growth forecast to 9.5% for the fiscal year 2021-22. Previously, IMF has forecasted 12.5% GDP growth. Highlights relating to India GDP forecast has been cut citing the hit on economic activity due to the second wave of the COVID-19 pandemic. Due to the second ..

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World Bank’s Global Economic Prospects Update

According to the Global Economic Prospects Update released by World Bank, global economy is expected to expand 5.6 per cent in 2021. This would be the fastest post-recession pace in 80 years because of strong rebounds from a few major economies. Key Findings of prospects As per latest edition, many emerging markets & developing economies ..

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G7 summit postponed; To be expanded as G10 or G11

The US President Donald Trump recently announced that the USA is postponing the G7 summit to September 2020. Also, President Trump intends to expand the G7 group to G10 or G11. On June 2, 2020, US  President Trump invited Indian PM Modi to the G7 summit through telephonic conversation. The Leaders discussed India-China recent Stand ..

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International Monetary Fund predicts India’s Growth Rate at 1.9%

Following the World that set India’s Growth rate between 1.5% and 2.8%, the International Monetary Fund has set growth rate of India at 1.9%. On April 14, 2020, the IMF released its report predicting growth rate of the country at 5.8%. Highlights IMF also says that the India will recover at the growth rate of ..

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IMF: Recession due to COVID-19 to be worse than 2009

On March 24, 2020, the International Monetary Fund announced that the recession to be caused due to Corona Virus is to be worse than the 2009. IMF has specifically warned the G20 nations that the current economic outlook is towards negative. The G20 nations are to hold a virtual summit in a week to come ..

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