International Monetary Fund (IMF) Current Affairs, GK & News

IMF raises India’s SDR allocation

The International Monetary Fund (IMF) has increased the allocation of Special Drawing Rights (SDR) to India in line with the existing quota of India in the fund. Highlights SDR is an alternate reserve currency which is floated by the IMF. SDR can be freely exchanged between the member countries instead of relying on currency of ..

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Foreign exchange reserves surge by USD 9.427 billion

As per RBI Data, India’s foreign exchange reserves surged by USD 9.427 billion. Foreign exchange reserves now stand at a record high of USD 620.576 billion in the week ended July 30. Key Points In 3rd week of July, reserves had declined by USD 1.581 billion amounting to USD 611.149 billion. Rise in reserves was ..

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IMF approves $650 billion for poor countries to tackle Covid

Member nations of the International Monetary Fund have approved the injection of $650 billion to help countries in dealing with mounting debt and economic fallout because of Covid-19 pandemic. Highlights These reserve assets, called as special drawing rights, have been created first time after 2009 global financial crisis when $250 billion were issued. It will ..

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India: 4th largest Forex Reserves holder

India’s forex reserves crossed $600 mark for the first time and as on June 4, it stood at $605 billion. With this, India equals Russia as the fourth largest reserve holder worldwide. Highlights India’s forex reserve was $605.008 billion while for Russia it was $605.2 billion. It took a year for reserves to rise by ..

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IMF warns for ‘Ricochet Impact’

According to International Monetary Fund (IMF), Emerging-market nations’ struggle to move out of covid-19 pandemic-induced economic crisis can hurt developed nations. It said, crisis has “Ricochet impact” on the developed and advanced economies. Highlights IMF suggests that, developed nations should doing all to ensure better & equitable access to vaccines and equitable recovery. Poorer nations ..

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