Executive Board
Calendar
Board Discussions
on India:

Previous:
February 12, 2016
February 13, 2015
January 27, 2014
January 25, 2013
March 9, 2012

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2016  2017
Real GDP 7.6 7.6
Consumer Prices 5.5 5.2
Source: World Economic Outlook (October 2016)
Please refer to more recent Press Release/Staff reports on this country for possible revisions.

India: Financial Position in the Fund

Transactions with the Fund


IMF Resident Representative
Office in India

You may contact us about India and the IMF at Contact Us


Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile


India and the IMF
Updated December 8, 2016

Show all items sorted by date  Show all items sorted by type 
Staff Papers
September 30, 2002 -- IMF Staff Papers - Volume 49, Number 3, 2002 - What Caused the 1991 Currency Crisis in India? by Valerie Cerra and Sweta Chaman Saxena
Which model best explains the 1991 currency crisis in India? Did real overvalua-tion contribute to the crisis? This paper seeks the answers through error correction models and by constructing the equilibrium real exchange rate using a technique developed by Gonzalo and Granger (1995). The evidence indicates that overvaluation as well as current account deficits and investor confidence played significant roles in the sharp exchange rate depreciation. The ECM model is supported by superior out-of-sample forecast performance versus a random walk model.