Washington: The International Monetary Fund (IMF) praised India saying that India took decisive steps while countering the Coronavirus crisis and its economic repercussions. Kristalina Georgieva, the chief of the IMF, said that India was ahead of the developing countries on this front while appreciating India. The IMF will be publishing its report on the 26th of January. Georgieva added that the Indian performance would be noted in this report.
The IMF chief said, ‘All the global economies suffered setbacks due to the Coronavirus pandemic. The Indian economy, too, was hit hard during the pandemic. India declared lockdowns before the pandemic could spread rapidly. This brought financial transactions to a grinding halt, and the economy slowed down. But India withdrew the lockdown in a phased manner. At the same time, India took decisive steps to accelerate economic progress.’
Georgieva praised the Indian government’s decisions on credit and financial policies. This abled India to face the Coronavirus pandemic and the economic crisis developing due to it, far better than developed countries. The IMF chief added that there is scope for India to improve its performance and India will definitely achieve the goal. The IMF chief also said that India is firm on the economic reforms program, which is a major positive. The IMF will be releasing the financial survey report on the 26th of January. The IMF chief indicated that the Indian performance would reflect in this report. In October, last year, the IMF had predicted that the Indian growth rate for the next financial year would be 8.8%.