Georgieva Crystalina, Implementing Director of International Financial Institutions, talked about the annual Spring Meeting of the IMF and the World Bank in Washington.
The Head of the International Monetary Fund (IMF) Georgieva on Wednesday praised high Indian growth rates, as projected in the latest world economic outlook, said that it was a positive news for the world. “India is one of the high-level economies. Even with a small downgrade, the growth is projected this year to 8.2 percent,” said Georgieva, added, “Healthy for India, but also positive in the world. Where the slowdown of growth creates problems big. “
The implementing director of international financial institutions is talking about the sidelines of the IMF’s annual spring and the World Bank in Washington.
Earlier this week, the IMF projected the growth of “which was quite strong” by 8.2 percent for India in 2022. It was reported to make Indian major economies grow the fastest in the world. While global growth has been projected at 3.6 percent by 2022, down from 6.1 percent by 2021.
On Tuesday, Georgieva held a meeting with Indian Finance Minister Nirmala Sitharaman in Washington on the side of the Summit. During the meeting, the two leaders discussed the current geopolitical situation and the economic impact on the economy.
Sitharaman mentioned that India’s accommodative fiscal attitude accompanied by the main structural reform and strong monetary policy that has helped in post-pandemic recovery.
Meanwhile, Georgieva recorded a mixture of policies targeted by India which had helped the economy remain strong even with limited fiscal space. He also talked about the resilience of the country in the remaining economy that grew the fastest throughout the world despite the challenges caused by Covid-19 pandemics.
The IMF senior official also praised India because he helped his neighbor Sri Lanka because it handled the worst economic crisis for decades.
He also assured that the IMF would continue to be actively involved with the island country to help reduce the crisis.
