IMF chief says India growing two times higher than average global growth
International Monetary Fund (IMF) chief Kristalina Georgieva on Thursday said India's growth rate is more than two times higher than the average global growth.
International Monetary Fund (IMF) chief Kristalina Georgieva on Thursday said India's growth rate is more than two times higher than the average global growth.
IMF sees India as a key growth driver even as global expansion weakens, with strong policy frameworks and domestic demand helping cushion external shocks and energy price pressures.
On Friday, International Monetary Fund (IMF) Managing Director Kristalina Georgieva thanked Prime Minister Narendra Modi for a great meeting and congratulated India's strong economic recovery from the COVID-19 pandemic, ahead of India's upcoming G20 presidency.
Talking about India, she said it was a very dramatic lockdown for a country of this size of the population with people clustered so closely together.
The Washington-based crisis lender late last month downgraded its growth forecasts, and now expects global GDP to fall by 4.9 percent this year due to the deeper contraction during lockdowns than previously anticipated.
With the worldwide economic 'sudden stop,' Georgieva said the fund's estimate 'for the overall financial needs of emerging markets is $2.5 trillion.'
She said the world appears to be a better place in January 2020 as compared to what it expected when the IMF announced its World Economic Outlook in October last year.
According to official data published on Tuesday, "China’s international trade growth slowed to 3.4 per cent in 2019, affected by the trade war with the US, with which exchanges decreased 10.7 per cent.
The new managing director of the International Monetary Fund (IMF) Kristalina Georgieva warned of an economic slowdown in 2019 in 90 per cent of the world.
To step down on February 1; World Bank CEO Kristalina Georgieva will assume the role of interim President
