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: 190 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)
News and Highlights
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A Presentation by Changyong Rhee, Director of the IMF's Asia and Pacific Department, Prepared for a Webinar by National Stock Exchange of India
July 29, 2020
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South Asia: Navigating Slowdown Amid Uncertainty
South Asia Regional Update, October 2019
November 20, 2019
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Money, Transformed: The Future of Currency in A Digital World
Finance and Development Magazine, June 2018
May 30, 2018
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Finance and Development, March 2018
March 8, 2018
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South Asia: The Robust Outlook Continues
South Asia Regional Update, January 2018
January 19, 2018
India and the IMF
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IMF Managing Director Kristalina Georgieva’s Statement at the Conclusion of G20 Leaders’ Summit
September 10, 2023
IMF Managing Director Kristalina Georgieva’s Statement at the Conclusion of G20 Leaders’ Summit
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Joint Statement on Solidarity with Morocco
September 10, 2023
Joint Statement on Solidarity with Morocco
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WEO Update July 2023 Press Briefing Transcript
July 25, 2023
Press briefing on the World Economic Outlook (WEO) Update by Pierre-Olivier Gourinchas, Economic Counselor and Director of the Research Department - July 25, 2023 at 9:00 a.m. Washington, DC time
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July 18, 2023
The global economy has shown some resilience. Despite successive shocks in recent years and the rapid rise in interest rates, global growth—although anemic by historical standards—remains firmly in positive territory, supported by strong labor markets and robust demand for services. That said, activity is slowing, especially in the manufacturing sector. Looking further ahead, medium-term growth prospects remain weak. Moreover, divergences in economic fortunes across countries are a persistent concern: some pockets of the global economy are doing well; others are weakening but still growing; and vulnerable countries are falling further behind.
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Transcript of IMF Press Briefing
July 13, 2023
Press Briefing by Julie Kozack, Director, Communications Department – July 13, 2023 at 9:30 a.m.
May 1, 2023
Despite weakening external demand and monetary tightening, domestic demand has so far remained strong, with China’s reopening providing fresh impetus. IMF Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy. Global growth is poised to decelerate as rising interest rates and Russia’s war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape. Asia’s domestic demand has so far remained strong despite monetary tightening, while external appetite for technology products and other exports is weakening. We project the region will contribute around 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent in last year. China’s reopening will provide fresh momentum. Normally the strongest effect would be from demand for investment goods in China, but this time the biggest effect is from demand for consumption. Other emerging economies in the region are on track to enjoy solid growth, though in some cases at slightly lower rates than seen last year.Read the Report
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