1273671.Yachika Singh.f2.Q47.IMF's Growth Projection in India.

Introduction:

The International Monetary Fund is a global organization founded in 1944. It aims was to help stabilize exchange rates and provide loans to countries in need. Nearly all members of the United Nations are members of the IMF with a few exceptions such as Cuba, Lichtenstein and Andorra. The IMF provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty. IMF is uniquely placed to help member governments take advantage of the opportunities and manage the challenges posed by globalization and economic development more generally. The IMF tracks global economic trends and performance, alerts its member countries when it sees problems on the horizon.

Key IMF activities

The IMF supports its membership by providing:

• Policy advice to governments and central banks.
• Research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets.
• Loans to help countries overcome economic difficulties;
• Concessional loans to help fight poverty in developing countries; and
• Technical assistance and training to help countries improve the management of their economies.

Discussion: 

The IMF's fundamental mission is to help ensure stability in the international system. It does so in three ways:

• IMF projects global growth at 2.9 percent in 2013, rising to 3.6 percent in 2014
• Growth to be driven more by advanced economies; emerging markets weaker than expected
• Risks to forecast remain on the downside

World growth was below 3 percent in the middle of 2012, but we are forecasting gradual strengthening over the course of the year to 3.25 percent. We are more optimistic about 2014, projecting 4 percent global growth. There are countries that are doing well, particularly emerging and developing economies. There are countries that are on the mend. Finally, there are countries that still have some distance to travel—including the Euro Area and Japan.

Conclusion:

In the nutshell we can say that IMF plays an important role in the development of India. During the crisis, it mobilized on many fronts to support its member countries. It increased its lending, used its cross-country experience to advice on policy solutions, supported global policy coordination, and reformed the way it makes decisions. It aims was to help stabilize exchange rates and provide loans to countries in need.