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.
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 February 13, 2015 (Country Report No. 15/61)
- Financial Sector Stability Assessment (FSSA) Update published on January 15, 2013. This paper on India was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on February 22, 2012. The Indian authorities published a Press Release on January 16, 2013 updating some of the information in the FSSA Update.
News and Highlights
April 30, 2015
South Asia Regional Update, November 2014
November 7, 2014
By Thomas Richardson, IMF Senior Resident Representative – India/Nepal/Bhutan, South Asia Economic Summit: “Towards South Asia Economic Union”
November 6, 2014
By Thomas Richardson, IMF Senior Resident Representative in India, Indian Institute of Management – Bangalore
June 16, 2014
By Thomas Richardson, IMF Senior Resident Representative – India/Nepal,
February 21, 2014
India and the IMF
April 27, 2016
The world’s economic leaders and stakeholders gathered at the 2016 IMF-World Bank Spring Meetings to tackle today’s global challenges—a slowing economy, the refugee crisis, and other global risks to stability—and forge the path towards more sustainable solutions.
April 14, 2016
April 13, 2016
March 15, 2016
Maintaining high growth, boosting job creation, and making further gains in reducing poverty are top policy priorities, Asian policymakers declared at a conference in New Delhi, India.
March 13, 2016
Regional Economic Outlook: Asia and Pacific
While Asia’s growth has recently disappointed, the region is expected to grow at a steady 5.4 percent in 2015–16, remaining the global growth leader. Asia’s growth should benefit from relatively strong labor markets and disposable income growth along with the ongoing gradual recovery in major advanced economies. Across most major Asian economies, lower commodity prices should help consumption. Negative risks to growth dominate, especially the possibility of a sharper slowdown in China or larger spillovers from the changing composition of China’s demand. In addition, further U.S. dollar strength accompanied by a sudden tightening of global financial conditions, weaker growth in Japan, and weaker regional potential growth could also dim Asia’s growth prospects. High leverage could amplify shocks, and lower commodity prices will also hurt corporate investment in key commodity-producing sectors. All in all, despite its resilient outlook, Asia is facing a challenging economic environment. This calls for carefully calibrated macroeconomic policies and a renewed impetus on structural reforms to facilitate investment and improve economic efficiency, bolstering economic resilience and potential growth.
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.