Corporate Law - Reserve Bank of India vide its web communication dated September 1, 2021 informs us that International Monetary Fund (IMF) has made an allocation of Special Drawing Rights (SDR) 12.57 billion (equivalent to around USD 17.86 billion at the latest exchange rate) to India on August 23, 2021. The total SDR holdings of India now stands [&helli...
Corporate Law - In “The Effects of the Global Crisis on Islamic and Conventional Banks: A Comparative Study,” economists Jemma Dridi of the IMF’s Middle East and Central Asia Department and Maher Hasan of the IMF’s Monetary and Capital Market Department look at the effects of the crisis on bank profitability, credit, and asset growth in countries...
Corporate Law - Just 10 short years ago, the 189 member states of the United Nations signed a declaration in which they said “we will spare no effort to free our fellow men, women, and children from the abject and dehumanizing conditions of extreme poverty to which...
Corporate Law - The global powerful financial houses and banking giants needs a chemical to wash their foresight about the world economic recovery and GDP growth numbers projected by them in the last term. The International Monetary Fund (IMF) lifted China's GDP growth forecast for 2010 to 10.5 percent from the earlier projection of 10 percent. IMF has r...
Corporate Law - Give the known challenges, every central bank has to move in the direction of taking right steps that it may feel as appropriate despite lack of consensus on many critical issues, without waiting for the global system to move. It would be wrong, however, as noted by Mr. Stephen Roach, to presume that “best global policies are the sum of...
Corporate Law - India successfully hosted the three day 4th International Tax Dialogue Conference on Tax and Inequality. The conference was inaugurated by the Finance Minister of India Mr Pranab Mukherjee on 7th December. ...
Corporate Law - The Union Cabinet today gave its approval to certain amendments to the IMF`s Articles of Agreement on Reform of the Executive Board of the IMF. The amendments are part of a package of reforms on quotas and governance in the IMF. Along with the recent quota reforms in IMF (i.e., Fourteenth General Review of Quotas), these amendments repres...
Corporate Law - The French Finance Minister, Ms. Christine Lagarde called on the Union Finance Minister Shri Pranab Mukherjee today as part of her effort to seek support for her candidature to the post of Managing Director, IMF. During her talks, she outlined her vision for reforms that IMF needs to undertake and the role it can play in addressing the cu...
Corporate Law - The International Monetary Fund's selection process for a new managing director will kick off with nominations on Monday,and the final decision expected by June 30, the institution has said. I am very pleased to announce that the Fund's Executive Board has adopted a procedure that allows the selection of the next managing director to take...
Corporate Law - Haggard and unshaven after a weekend in jail, the chief of the IMF was denied release on bail Monday on charges of trying to rape a hotel maid as allegations of other, similar attacks by Dominique Strauss-Kahn began to emerge. ...