International Monetary Fund Current Affairs, GK & News

International Monetary Fund

International Monetary Fund (IMF) was established with stated objectives to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C. It was conceived on July 22, 1944 in the Brettonwoods Conference, New Hampshire, United ..

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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IMF to keep 2021 global growth forecast at 6%: Managing Director

On July 21, 2021, The International Monetary Fund has said that it is estimating that global growth for 2021 will be about 6%, the same that was forecasted in April, but some countries are growing faster and others more slowly.   Key Points Kristalina Georgieva, IMF’s Managing Director, said that economic recovery will be truncated ..

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SIPRI report on Military Spending

The Stockholm International Peace Research Institute recently released its “Trends in world Military Expenditure” report. According to the report, the top military spenders in the world are the United States, China and India. These three countries alone contributed 62% global military expenditure. Key Findings of the Report In 2020, the US spent 778 billion USD ..

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IMF: Solidarity Tax on Pandemic Winners

The International Monetary Fund recently announced Solidarity Tax on Pandemic Winners. That is, the companies that prospered during COVID-19 crisis should pay additional tax to show solidarity towards those hit hardest by the pandemic. About the Solidarity Tax suggested by IMF It is a temporary tax. It shall be imposed to reduce social inequalities that ..

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TPPA of USD 2.4 Billion Signed by Pakistan with China for Hydro Power Project in Pakistan Occupied Kashmir 

On 25th June 2020, a Tripartite Power Purchase Agreement (TPPA) was signed for the construction of the 1124 MW Kohala Hydro Power Project. The agreement was signed in between the Government of Pakistan, Chinese Company- China Three Gorges Corporation (State-owned company of Chinese Government), and Government of Azad Kashmir (Part of Pakistan occupied Kashmir). Kohala ..

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