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Subir Gokaran appointed as Executive Director of IMF
Renowned economist Subir Gokaran has been appointed as an Executive Director on the board of the International Monetary Fund (IMF). Mr. Gokarn’s name was cleared by Appointments Committee of Cabinet (ACC) headed by Prime Minister Narendra Modi. He will replace ..
Month: Current Affairs - November, 2015
Greece becomes first developed nation to default IMF debt
Greece has become the first developed nation to default on International Monetary Fund (IMF) debt. It has defaulted on a 1.7 billion dollars payment to IMF. The deadline for debt payment was missed by Greece after Eurozone Finance Ministers refused ..
Month: Current Affairs - July, 2015
Global energy subsidies to hit US $ 5.3 trillion this year: IMF report
International Monetary Fund (IMF) in its recent report titled Act Local, Solve Global: The $5.3 Trillion Energy Subsidy Problem has voiced alarm about energy subsidies across the world. The report has clearly mentioned that theenergy subsidies across the world are ..
Month: Current Affairs - May, 2015
Sunil Sabharwal re-nominated as Alternate Executive Director at IMF
Sunil Sabharwal, an independent Indian-American investor has been re-nominated as Alternate Executive Director at International Monetary Fund (IMF). He was re-nominated to key post at IMF by US President Barack Obama. In this regard, President Obama has forwarded his decision ..
Month: Current Affairs - March, 2015
India's Current Foreign Exchange Reserves: $311.427 billion
India’s forex reserves continued their downward journey for the fifth consecutive week, India’s foreign exchange reserves plunged by $2.754 billion to $311.427 billion in the week to October 3. The largest fall is seen in US currency assets which make ..
Month: Current Affairs - October, 2014
World Bank projects 5.7% growth for India in 2014-15
The World Bank has projected an economic growth rate of 5.7% in 2014-15 for India. World Bank projected an acceleration of growth (factor costs) in FY 2014 to 4.8%, further increase to 5.7% in FY 2015 Rationale: This growth rate was projected ..