International Monetary Fund

The IMF said it expects Asia's economy to contract 2.2% this yearIndia's economy is likely to shrink 10.3% this year in stark contrast to China, which is set to expand 1.9%

IMF MD Kristalina Georgievaa said a six-month extension of a freeze in official bilateral payments agreed by the Group of 20 major economies last week would help, but said more urgent action was needed

To receive DSSI relief, countries are required to apply for an arrangement with the IMF, which could be either a regular programme, or a shorter-term emergency facility

However, government clarified that per capital GDP of India is way ahead of Bangladesh when compared in purchase power parity terms

The BoE has long cautioned that the outlook remains linked to the nature of the country's future trading position with the EUBritain's nationwide lockdown, imposed on March 23 for about three months, plunged the country into its deepest recession on record

The IMF said that the United States will see a 4.3% contraction in GDP during 2020, considerably less severe than the 8% contraction forecast in JuneThe IMF also warned that economic 'scarring' from job loss, bankruptcies, debt problems and lost schooling will hold back medium-term global growth

The World Bank is looking at ways to reduce the amount of debt owed by poor countries, rather than simply delaying repayments, to attract more investors in the wake of the global pandemic and recession, President David Malpass said

When remittances are above 13% of gross domestic product on average, they strengthen financial inclusion by improving access and use of banking systems, the study finds

International Monetary Fund revised its global growth outlook. IMF cut India's growth forecast for 2019-20 to 4.8% from 6.1%. IMF cited India's numbers for trimming global growth in 2019 & 2020 by 0.1%.

India needs to consolidate its finances by curbing expenditure and boosting taxes to trim its debt, the International Monetary Fund said.