India Resident Representative Site
Resident Representative Office in India
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.
News — Highlights
IMF – ICRIER Conference on Fiscal Policy Achievements and Challenges in Asia—Implications for India, New Delhi, May 6, 2013
This one day event, held on May 6, 2013 at the Indian Centre for Research on International Economic Relations (ICRIER) in New Delhi, featured presentations from the April 2013 Asia Pacific Regional Economic Outlook - http://www.imf.org/external/pubs/ft/reo/2013/apd/eng/areo0413.htm (see also www.imf.org/asia) and the IMF Fiscal Affairs Department work on energy subsidy reform (www.imf.org/subsidies).
India and the IMF
Opening Remarks by Naoyuki Shinohara, Deputy Managing Director, International Monetary Fund, at a Joint ADB-IMF-Reserve Bank of India Seminar on Managing Inflation in an Era of Commodity Price Volatility
May 3, 2013
New Delhi, India
"Global Economic Prospects and the Implications for India" Speech to the Federation of Indian Chambers of Commerce and Industry (FICCI), New Delhi by Naoyuki Shinohara, Deputy Managing Director, International Monetary Fund
Regional Economic Outlook: Asia and Pacific
Growth in the Asia-Pacific region shows signs of improving as extreme risks emanating from advanced economies have receded and domestic demand remains resilient, supported by relatively easy financial conditions and robust labor markets. A small and gradual pick-up in growth to over 5¾ percent is projected in the course of 2013. Risks to the outlook from within the region, such as rising financial imbalances and asset prices in some economies, are coming clearer into focus. Although Asia’s banking and corporate sectors have solid buffers, monetary policymakers should stand ready to respond early and decisively to shifting risks, and macroprudential measures will also have a role to play. In many Asian economies, some fiscal consolidation could also rebuild the space needed to respond to future shocks and preempt potential overheating pressures from capital inflows. In particular, there is a growing need to make tax and spending policies more efficient. To sustain high growth rates and alleviate the “middle-income trap” across Emerging Asia, the policy agenda will vary by jurisdiction but will also often include strengthening infrastructure investment and reforming goods and labor markets.
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 â€śCertificate of International Capital Transferâ€ť 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.