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July 24, 2024 4:54 pm

When everyone is slowing, India is doing better and in relative bright spot compared to others: IMF

Washington, October 12

When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday.

Just look at the global conjuncture right now, which is the overarching problem, IMF Director of Asia and Pacific Department, Krishna Srinivasan, said, adding that the growth was “slowing across many parts of the world even as inflation is rising”.

We expect countries accounting for 1/3 of the global economy to go into a recession this year or the next. And inflation is rampant. So that is the overarching story,” Srinivasan told PTI in an interview.

“Almost every country is slowing. In that context, India is doing better and is in a relative bright spot compared to the other countries in the region,” Srinivasan said.

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