India can borrow more from IMF nowSeptember 11th, 2008 - 7:25 pm ICT by IANS
New Delhi, Sep 11 (IANS) India will be able to borrow more from the International Monetary Fund (IMF) following the government’s decision to enhance the country’s exposure in the Washington-based fund bank.The cabinet, chaired by Prime Minister Manmohan Singh Thursday, gave the approval to amend the IMF’s Articles of Agreement to increase India’s quota.
In absolute terms, India can now borrow $5.82 billion, as against the $4.16 billion it was entitled to till now.
“With this, India’s quota is slated to increase from 1.91 percent to 2.44 percent in terms of share in the global total,” Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after the cabinet meeting.
Dasmunsi said the cabinet approved the proposed amendment of IMF’s Articles of Agreement to enhance India’s “voice and participation” in the fund bank and undertake necessary expenditure towards capital payments for additional quota.
- India's quota in IMF to increase to 2.75 percent - Oct 25, 2011
- India approves amendments to IMF charter - Sep 30, 2011
- India seeks quick ratification of quota reforms - Apr 22, 2012
- IMF reform to start in 2013: Mukherjee - Oct 24, 2010
- India cuts tax on overseas borrowings (Lead) - Sep 21, 2012
- IMF arms itself with $430 bn new funding - Apr 21, 2012
- IMF to explore options to combat global economic risks - Jan 18, 2012
- IMF approves $36 bn funding for Greece - Mar 16, 2012
- BRICS voices concern over slow pace of IMF reforms - Mar 29, 2012
- Europe agrees to 1 trillion euro fund for new bailout plan - Oct 27, 2011
- India continuing on the reform path: Mukherjee - Apr 22, 2012
- India raises overseas investment limit in government, corporate bonds (Lead) - Jun 25, 2012
- No leadership vacuum in India, says Pranab - Apr 23, 2012
- Government approves amendment to Ex-Imp bank act - Nov 16, 2011
- IMF lowers India growth forecast to 6.9 percent - Apr 27, 2012