A Bright Spot In A Dark Horizon: IMF Managing Director Lauds India’s Growth

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Washington: Kristalina Georgieva, IMF’s Managing Director, on Thursday praised India and claimed it as a “bright spot in a dark horizon” due to the rapidly-growing economy even in these difficult times.

While addressing a press conference, IMF’s MD added that “India deserves to be called a bright spot in this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly, this growth is underpinned by structural reforms.”

The comment was made on the sidelines of annual meetings of the Board of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington.

Praising India’s digital economy, Georgieva said that the remarkable success of digitisation in India is the digital ID that provides all services and support on the basis of “digital access.” She further added that digitisation is a huge factor in India’s success.

Further talking about India heading the G20 she said “The country (India) is now stepping into taking the lead on G20 from that position of strength which makes me strongly believe that we will see India leaving a mark on the world for years to come during next year’s presidency.”

Answering a question about the G20 representative, IMF top official said, “India is the next chair of G20 and they are very committed to a strong quarter-based well resourced IMF and we might see more engagement that comes under their leadership.”

This praise for India’s economy comes as the country continues to maintain its position as the fastest-growing major economy in the world.

In its latest World Economic Outlook report, the IMF noted, “The outlook for India is for growth of 6.8 per cent in 2022, a 0.6 percentage point downgrade since the July forecast, reflecting a weaker-than-expected outturn in the second quarter (April-June) and more subdued external demand.”

(With Agency Inputs)


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