New Delhi: The International Monetary Fund Managing Director Kristalina Georgieva lauded India’s Economic growth and said that the country deserves to be called ‘a bright spot on black horizon’.
Georgieva was speaking on the Fourth day of IMF and World Bank annual meetings at IMF headquarters in Washington DC. The economy of India is fast growing even in these difficult times, but most importantly this growth is underpinned by structural reforms, said Georgieva.
The IMF also observed that the global economy may face a 25 percent recession and also estimates that the global growth rate could reach two percent, the biggest collapse in history. The negative drop may affect 3/2 of the countries in the world. IMF also informed that the joint contribution of the world is necessary to beat the world economic recession.