Slowdown in India is temporary: IMF chief

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Davos: The growth slowdown in India is temporary and the momentum is expected to improve, IMF chief Kristalina Georgieva on Friday said.

Speaking here at the WEF 2020, she also said the global scenario appears to be better in January 2020 compared to what was announced at IMF’s World Economic Outlook in October 2019.

The IMF chief said the factors driving this positive momentum include receding trade tension between the US and China.

She said growth rate of 3.3 per cent is not fantastic for the world economy and this is still a sluggish growth. The fiscal policies has to be more aggressive, she added.

On emerging markets there is a momentum to improve further going ahead, the IMF chief said and added that there are also some bright spots like Indonesia and Vietnam.

She further said a number of African countries are doing very well, but some other nations like Mexico are not up to the mark.

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