INDIA’S Economy On Path Of Gradual Recovery: IMF
#GS2 #INTERNATIONAL INSTITUTION AND THEIR MANDATE.
The International Monetary Fund has said that the Indian economy is on the path of gradual recovery. IMF has said this ahead of its next month’s spring meeting with the World Bank.
- IMF’s spokesperson Gerry Rice said that the Indian economy is on the path of gradual recovery, real GDP growth, and return to positive territory in the fourth quarter of 2020. And that’s for the first time actually since the start of the pandemic and it’s supported by a pickup in gross, fixed capital formation.
- High-frequency indicators including PMIs trade and mobility suggest continued recovery in the first quarter of this year, ‘21.
- However, the recent emergence of the variants and localized lockdowns could pose risks to a sustained recovery.
- The IMF is scheduled to release its World Economic Outlook on April 6.
International Monetary Fund
- IMF is an international financial institution that was established in the year 1944. It is headquartered in Washington, D.C., U.S.
- At present, IMF has 190 member countries.
World Economic Outlook
- The World Economic Outlook (WEO) is a report published by the International Monetary Fund. This report analyzes key parts of the IMF’s surveillance of economic developments and policies in its member countries. It also projects developments in the global financial markets and economic systems.