Advertisement
Monday, Aug 15, 2022
Outlook.com
Outlook.com

Growth Slowdown In India ‘Temporary’, Expect Momentum To Improve: IMF Chief

"We had a downgrade in one large market India but we believe that's temporary. We expect momentum to improve further going ahead. There are also some bright spots like Indonesia and Vietnam," IMF Chief Kristalina Georgiev said.

Growth Slowdown In India ‘Temporary’, Expect Momentum To Improve: IMF Chief
IMF chief Kristalina Georgieva | File Photo
Growth Slowdown In India ‘Temporary’, Expect Momentum To Improve: IMF Chief
outlookindia.com
2020-01-24T17:42:47+05:30

IMF chief Kristalina Georgieva on Friday said growth slowdown in India appears to be temporary and she expects the momentum to improve going ahead.

Speaking at the World Economic forum (WEF) 2020 in Davos, she also said the world appears a better place in January 2020 compared to what it was when IMF announced its World Economic Outlook in October 2019.

She said the factors driving this positive momentum include receding trade tension after the US-China first phase trade deal and synchronised tax cuts, among others.

She, however, said a growth rate of 3.3 per cent is not fantastic for the world economy.

"It is still sluggish growth. We want fiscal policies to be more aggressive and we want structural reforms and more dynamism," the managing director of the International Monetary Fund (IMF) said.

On emerging markets, she said they are also moving forward.

"We had a downgrade in one large market India but we believe that's temporary. We expect momentum to improve further going ahead. There are also some bright spots like Indonesia and Vietnam," she noted. She further said a number of African countries are doing very well, but some other nations like Mexico are not.

On risks ahead for the global economy, the IMF chief listed factors like weakness in long-term productivity growth and low inflation.

"We are living in a more risk-prone world. It is only January and there have been events that are sparking risks for the global economy," she added.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement