IMF urges India to lift rice export ban

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IMF urges India to lift rice export ban

STORY: IMF urges India to lift rice export ban DATELINE: July 27, 2023 LENGTH: 00:01:21 LOCATION: New Delhi CATEGORY: ECONOMY/MARKET SHOTLIST: 1. various of India gate 2. various of rice field 3. various of rice wholesale market 4. various of rice 5. various of export containers STORYLINE: The International Monetary Fund (IMF) has encouraged India to remove restrictions on the export of a certain category of rice, saying it would have an impact on global inflation. The Indian government on July 20 banned the export of non-Basmati white rice to boost domestic supply and keep retail prices under check. Such restrictions are likely to exacerbate volatility in food prices in the rest of the world and lead to retaliatory measures, which can be harmful globally, Pierre-Olivier Gourinchas, IMF's Chief Economist and Director of the Research Department, told a press conference after the release of the World Economic Outlook on Tuesday. The IMF also projected India's gross domestic product (GDP) growth rate to be

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