International Monetary Fund (IMF) Chief Kristalina Georgieva has said that India’s economy is expected to remain resilient even as global growth slows amid war-driven disruptions.
Speaking at a press briefing during the IMF Spring Meetings, Ms Georgieva said, country’s strong fundamentals are helping it outperform most economies. She said, India’s growth is more than two times higher than the average global growth. She attributed country’s relative strength to sustained policy improvements and institutional capacity built over the past decades.
The IMF chief stated that emerging market economies, including India, have significantly improved their policy frameworks, particularly in monetary policy. She said, they have put in place independent central banks, fiscal councils, and built very strong reserves. However, she cautioned that a prolonged conflict in West Asia could still weigh on all economies.
Speaking at the press briefing on the Fund’s latest Fiscal Monitor, Director of the IMF’s Fiscal Affairs Department, Rodrigo Valdes, India’s strong economic growth is helping cushion fiscal pressures. He stressed that India’s growth momentum is not cyclical but structural.
