This web page presents information about the work of the IMF in India, including the activities of the IMF Resident Representative Office. Additional information can be found on the India and IMF country page, including IMF reports and Executive Board documents that deal with India.

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At a Glance: India's Relations with the IMF

  • Current IMF membership: 189 countries
  • India Joined on December 27, 1945; Article VIII
  • Total Quota: SDR 4,158.20 million
  • Outstanding loans: None
  • The last Article IV Executive Board Consultation was on January 25, 2017 (Country Report No. 17/54)

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News and Highlights

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India and the IMF

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May 9, 2018

The world economy continues to perform well, with strong growth and trade, rising but still muted inflation, and accommodative financial conditions, notwithstanding some increased financial market volatility in early 2018. Driven partly by the procyclical tax stimulus in the United States, near-term economic prospects for both the world and Asia have improved from the alreadyfavorable outlook presented in the October 2017 Regional Economic Outlook Update: Asia and Pacific. Asia is expected to grow by around 5½ percent this year, accounting for nearly two-thirds of global growth, and the region remains the world’s most dynamic by a considerable margin. But despite the strong outlook, policymakers must remain vigilant. While risks around the forecast are broadly balanced for now, they are skewed firmly to the downside over the medium term. Key risks include further market corrections, a shift toward protectionist policies, and an increase in geopolitical tensions. With output gaps closing in much of the region, fiscal policies should focus on ensuring sustainability. Given still moderate wage and price pressures, monetary policies can remain accommodative in most Asian economies for now, but central banks should stand ready to adjust their stances as inflation picks up, and macroprudential policies should be used appropriately to contain credit growth. Many Asian economies face important medium-term challenges, including population aging and declining productivity growth, and will need structural reforms, complemented in some cases by fiscal support. Finally, the global economy is becoming increasingly digitalized, and some of the emerging technologies have the potential to be truly transformative, even as they pose new challenges. Asia is already a leader in many aspects of the digital revolution, but to remain at the cutting edge and reap the full benefits from technological advances, policy responses will be needed in many areas, including information and communication technology, trade, labor markets, and education.    Read the Report

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Scam Alert

Fraudulent Scam Emails Using the Name of the IMF

We would like to bring to the notice of the general public that several variants of financial scam letters purporting to be sanctioned by the International Monetary Fund (IMF) or authored by high ranking IMF officials are currently in circulation, and may appear on official letterhead containing the IMF logo. The scam letters instruct potential victims to contact the IMF for issuance of a “Certificate of International Capital Transfer” or other forms of approval, to enable them receives large sums of monies as beneficiaries. The contact e-mail information is always BOGUS and unsuspecting individuals are then requested to send their personal banking details which the scammers utilize for their fraudulent activities.


Contrary to what is stated in these scam e-mails, letters, or phone conversations, the IMF does NOT authorize, verify, monitor, or assist in contract or inheritance payments between third parties and/or Governments, nor does it endorse the activities of any bank, financial institution, or other public or private agency. For purposes of clarification, the IMF is an inter-governmental organization whose transactions and operations are carried out directly with its member countries.


If you have already received such e-mails, you are advised to terminate all further contacts with the scammers, and, in the event that you have sent them funds, contact your local law enforcement agency immediately. If you are resident in the United States, you can also file a complaint with the US Federal Bureau of Investigation (FBI), through the following website: http://www.ic3.gov/default.aspx.

Additional general information on scam e-mails may be found at the following websites:
1) http://www.lookstoogoodtobetrue.com/
2) http://www.treas.gov/press/releases/js1130.htm