IMF

April 26, 2024 3:38 PM

Sri Lanka approves IMF-backed law to seize proceeds of crime

Sri Lanka has approved a new law backed by the International Monetary Fund (IMF) allowing the state to seize any proceeds from criminal activities, a cabinet spokesperson said on Friday. The new law was proposed as part of efforts under the IMF programme to improve governance, Transport Minister Bandula Gunawardana said at a cabinet briefing. The law is part of conditions Sri Lanka has to fulfill to take forward a $2.9 billion program with the IMF after its economy crumpled under the worst fin...

IMF boosts India’s 2024 growth forecast

The International Monetary Fund (IMF) in its latest outlook raised India's growth projections for 2024 from 6.5 per cent to 6.8 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies. For the year 2025, the IMF maintained India's growth rate at 6.5 per cent. It attributed robustness and strength in domestic demand and a rising working-age population behind its growth projections. Countries with a current demographic dividend could...