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India set for faster growth than other emerging markets: IMF NEW DELHI: India's economy is set to grow faster than every other major emerging market this year, the International Monetary Fund forecast Tuesday, making it a standout performer at a time of stuttering global growth.While the Fund lowered its forecast for expansion in 2015, it predicted an acceleration next year thanks to a pickup in investment, policy reforms and lower commodity prices, which have dealt a windfall to Prime Minister Narendra Modi's government."Growth in India is expected to rise above the rates in other emerging market economies," the report said. "Inflation is expected to decline further in 2015 reflecting the fall in global oil and agricultural commodities prices." In its semi-annual World Economic Outlook the Fund said the economy would grow 7.3 percent this year, down from a July estimate of 7.5 percent. But it forecast 7.5 percent expansion next year.However, it predicted China's economy would see growth slow to ...

IMF cuts US growth outlook for 2016 WASHINGTON: The International Monetary Fund estimated Tuesday that the US economy will pick up only modestly in 2016 after a mild gain this year, thanks to low energy prices and an improving housing market.The IMF cut its US growth forecast for next year to 2.8 percent, 0.2 percentage points lower than it predicted just three months ago.It said in its new World Economic Outlook that the world's largest economy, which grew 2.4 percent in 2014, ...
German factory orders fall for second straight month BERLIN: German industrial orders, a key measure of demand for goods in Europe's biggest economy, slumped in August, official data showed Tuesday.The month-on-month drop of 1.8 percent was the second consecutive month of decline, and missed analysts' forecasts.Analysts polled by financial services firm FactSet had expected a 0.4 percent rebound in August.Weakness in domestic demand as well as from outside the eurozone had contributed to the August slump, according to the preliminary data released by ...
Uganda's economic growth should reach 6.5pc, IMF says KAMPALA: Investments in infrastructure should help raise Uganda's economic growth to about 6.5 percent in the coming years from 5 percent in the last fiscal year, the International Monetary Fund said on Monday. "Growth is expected to gradually return to its potential of about 6-6.5 percent," the IMF said. "Authorities will continue their plans to scale up public investment the completion of these projects should reduce infrastructure bottlenecks and support growth." In May, the IMF ...
Greece to unveil painful 2016 draft budget ATHENS: Greece will unveil a painful 2016 draft budget on Monday meant to satisfy international creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with the estimates by the country's lenders. After seven months of heated negotiations with its EU/IMF creditors, Athens agreed in July to implement spending cuts and economic reforms in exchange for an 86 billion euro bailout that kept it in the euro ...
Oil exports from north Iraq rise to 600,463 bpd in September ERBIL: Oil exports from northern Iraq rose in September to an average of 600,463 barrels per day (bpd), the Kurdistan region's ministry of natural resources said on Monday. That represents an increase of around 127,000 bpd from August, when exports were hit by repeated sabotage of the pipeline carrying crude to Turkey's Ceyhan port from the autonomous Kurdistan region and Kirkuk fields. Exports via the pipeline to Turkey have steadily increased this year, but since ...
TPP trade talks head into Monday ATLANTA: Talks on the ambitious Pacific free-trade treaty were extended again to Monday as they remained bogged down especially in differences over international dairy trade.A US trade official said plans for a press conference expected to announce a deal on the 12-nation talks late Sunday were cancelled, though he gave no reason.The official said nearly all outstanding issues had been dealt with, and that the negotiators were just completing details and reviewing the lengthy draft ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln