St. Petersburg: India will have to wait for much longer than it had hoped to play kitty party with the group of five emerging economies and draw support from a common currency pool.
Though the group

India faces at least “a one-in-three” chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor's has warned, amid new threats to economic growth and reforms.

Prime Minister Manmohan Singh leaves here tomorrow on a four-day visit to Durban in South Africa to attend a five-nation Summit on March 26 and 27 that could launch a BRICS development bank and discuss ways to reform governance in international financial institutions.

As India faces the prospect of being the first BRICS country to lose its investment-grade credit rating, investors have already delivered their verdict: to them, the country already trades at 'junk' w

India may not be called upon to inject USD 10 billion (Rs 55,000 crore) it has committed to the IMF for bailing out debt-wrecked eurozone if the global economic situation improves.

"The amount

Leaders of emerging economies said on Monday that they wanted the IMF to put in place reforms to increase their influence before they step up contributions to a fund to prevent future crises.

Leaders

India and Russia each pledged $10 billion on Monday for an IMF firewall meant to prevent future crises, marking a new level of commitment by emerging economies as they seek a greater voice.

At a summ

Prime Minister Manmohan Singh on Tuesday said his government is determined to take 'tough' decisions, including on controlling subsidies, to reverse the expansion of the fiscal deficit, even as he exp

Led by China, emerging economies pledged huge sums to the International Monetary Fund's global firewall on Monday, helping it raise $456 billion in resources as the eurozone crisis rages.

In a clear

Slowing GDP growth and political roadblocks to economic policymaking are just some of the factors pushing up the risk that India (unsolicited BBB-/Negative/A-3) could lose its investment-grade rating.