Special drawing rights Current Affairs, GK & News

IMF: Sub-Saharan Africa to see world’s slowest growth in 2021

The International Monetary Fund recently released the Regional Economic Outlook for Sub Saharan Africa. According to the report the Sub Saharan region is to witness the world’s slowest growth in 2021. Key Findings The sub-Saharan region is projected to grow by 3.4% in 2021. This is way below the global growth prediction of 5.5% in ..

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IMF to distribute SDR to member countries by August

The International Monetary Fund recently announced that it will distribute the Special Drawing Rights to its member countries by mid-August. Key Highlights The IMF has agreed to support SDR allocation of 650 million USD. This is the largest in the history of IMF. Recently, the G20 Finance Minsters agreed to the International Monetary Fund to ..

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G20 nods to IMF for fresh SDR issue

The G20 Finance Ministers recently nodded to the International Monetary Fund to provide fresh Special Drawing Rights to its member countries. The IMF has been permitted to provide SDR of worth 650 million USD to the member countries. This will help boost the reserves of all nations and will avoid pushing low-income countries into further ..

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Forex Reserves of India are rising

The Forex Reserves of India are increasing and are to hit 500 billion USD soon. In May 2020, the Indian Forex Reserves touched an all time high of 493 billion USD. What is Foreign Exchange Reserve? The Foreign Exchange Reserves are the reserve assets that are held by the central bank in foreign currencies. It ..

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RBI and Finance Ministry to meet to decide on First Half Borrowing Plan

The Finance Ministry and the Reserve Bank of India is to hold a meeting on March 31, 2020 to discuss about the first half borrowing plan for the year 2020-21. For the first time in Indian history, the meeting is to be held through video conferencing. The Plan According to the Union Budget 2020-21, the ..

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