The United States is expected to register 7% growth this year, a sharp reversal from last year's 3.5% drop and an upgrade from the 6.4% growth the IMF had forecast for 2021 back in April.
IMF deputy chief economist Petya Koeva Brooks made a strong case for an additional economic stimulus to address the impact of the pandemic on the country's economy.
Immediate priorities are to continue supporting people and firms, and, in particular, to focus on supporting the most vulnerable.
On Tuesday, the IMF predicted an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the Covid-19 pandemic.
Notably, in 2020, India's economy contracted by a record 8%, the IMF said as it projected an impressive 12.5% growth rate for the country in 2021
The IMF is scheduled to release its World Economic Outlook on April 6.
Gopinath lauded the Serum Institute of India, saying it produces the most number of vaccines in the world in a regular year
This projection of India's massive 11.5% growth rate by IMF has made it the only major economy that's likely to witness double-digit growth in 2021
In an episode of Kaun Banega Crorepati, Amitabh Bachchan commented on Gita Gopinath's beauty, saying her face is so beautiful that nobody would associate her with economy
The IMF feels that the effects largely depend on how the government implements the laws.
'The measures will enable farmers to directly contract with sellers, allow farmers to retain a greater share of the surplus by reducing the role of middlemen, enhance efficiency and support rural growth', said IMF's Director of Communications.
The IMF Managing Director predicted a less bad outlook for India in the upcoming World Economic Update due to the steps taken by it.
The World Bank and IMF concluded their annual meeting on Friday, which heavily revolved around the impact of COVID-19.
The chart showed that the Indian economy is projected to contract by a massive 10.3 per cent this year, the highest contraction among the countries mentioned.
Describing COVID-19 as a global human crisis, IMF Managing Director Kristalina Georgieva has urged the Indian government to prioritise on protecting the most vulnerable sections of society.
According to Vitor Gaspar, Director of the IMF's Fiscal Affairs Department, it is interesting to note that India's debt ratio has been stable at around 70 percent of GDP over the past decade.
The IMF said on Tuesday that the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.
The remarks by International Monetary Fund's Chief Spokesperson Gerry Rice on Thursday came in response to a question on the recent FDI announcements made by global giants like Facebook and Google in India.
External Affairs Minister S Jaishankar being received at the 21st Meeting of SCO Council of Heads of State in Dushanbe.PTI Photo
BJP leader and Union Minister Mukhtar Abbas Naqvi participates in “Sewa Diwas”, organised to celebrate birthday of Prime Minister Narendra Modi, at a vaccination centre in Rampur.PTI Photo
Members of Bhartiya Kissan Union block a road during a protest against Punjab Government in support of their demands in Patiala.PTI Photo
Union Home Minister Amit Shah waters a sapling planted under the 'All India Tree Plantation Campaign-2021' by CAPF, at CRPF Training Centre in Nanded.PTI Photo
Bihar Chief Minister Nitish Kumar greets PM Narendra Modi on his birthday by writing a message on a board during inauguration of Maha Tikakaran Abhiyan 2.0 at Patliputra Sports Complex, in Patna.PTI Photo
India is poised to become a global education hub with the government introducing major policy changes
Outlook's annual ranking of India’s top 50 State Private Universities in 2021 will help students make an informed choice.
Jain to Patidar. Was caste a decisive factor in the BJP’s choice for CM during the recent change of guard in Gujarat?
With all foreign soldiers out of Afghanistan, the Taliban is now in a position to do pretty much what it wants.
It can be a crucial stepping stone to develop young minds to appreciate the importance of practising honesty throughout their academic journey and lay the foundations for successful professional careers.
One can be pro-religion, but against coerced religion; one can be pro-vaccines, but against coercion and mandates
We can do anything with the Cloud. Buy and sell, eat, cook, get our clothes, houses, cars, watch movies, read books, listen to music, talk, write, communicate, ask, create, teach, learn, heal…. Schools must prepare children for this world.