IMF Video Contest

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.

Back to Top

At a Glance: India's Relations with the IMF

  • Current IMF membership: 188 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.

Back to Top

Statement

Mr. Gerry Rice, IMF Spokesperson and Director of Communications Department, issued the following statement:

“The Central Statistical Office (CSO) of India released revised estimates of GDP in January 2015. The revised estimates are compiled according to the guidelines of the 2008 System of National Accounts and the base year was updated. However, the data are only available for three years—2011-2014. The GDP estimates incorporate new source data and modified compilation techniques. In response to a longstanding request from the CSO and Ministry of Finance, a team from the International Monetary Fund (IMF)’s Statistics Department visited New Delhi during April 22 to May 5. The team reviewed the methodology of the new GDP estimates and provided guidance on back-casting the series so that a longer revised series is made available to users. The team’s visit was part of the IMF's regular program of providing technical assistance to member countries for capacity building. Reports about the team auditing India’s newly adopted GDP methodology were incorrect.”

Back to Top

News and Highlights

More

Back to Top

Regional Economic Outlook: Asia and Pacific

Asia and Pacific Regional Economic Outlook

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.

Read the report

Back to Top

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