Kristalina Georgieva, the head of the International Monetary Fund (IMF), praised India’s high growth rate, as projected in the latest World Economic Outlook, saying it is good news for the world.
“India’s economy is one of the fastest growing in the world
“Even with the small downgrade, growth is projected to be 8.2 percent this year,” Georgieva said, adding that this is “healthy for India, but also positive in a world where growth slowdown is causing a major problem.””so this can be said that India’s economy is one of the fastest growing economy in the world.
The managing director of the international financial institution was speaking on the sidelines of the IMF and World Bank’s annual spring meeting in Washington.The IMF forecasted “fairly robust” growth of 8.2 percent for India in 2022 earlier this week. As a result, India is said to be the world’s fastest-growing major economy. While global growth is projected to be 3.6% in 2022, down from 6.1% in 2021
Strong monetary policies have helped in the post-pandemic recovery
On the sidelines of the summit, Georgieva met with India’s finance minister, Nirmala Sitharaman, in Washington on Tuesday. Both leaders discussed the current geopolitical situation and its economic impact on the economies during the meeting.
Sitharaman spoke about India’s accommodating fiscal stance, which has been accompanied by major structural reforms and strong monetary policies, which have aided the country’s post-pandemic recovery.