Tuesday, January 31st, 2023 16:56:53

India can handle the world amid global recession, IMF expresses confidence in PM Modi

Updated: January 13, 2023 7:07 pm

After Sri Lanka, darkness of despair has engulfed all the countries of the world, including Pakistan, which has reached the path of destruction. No one is thinking of a way out of the global recession. Recession is hitting from Asia to Europe, America and Africa. People are suffering due to inflation. In such difficult times, the whole world has high hopes from India. The International Monetary Fund (IMF), which is not ready to give a single penny to Pakistan realizing its ability to repay the loan, the same IMF is telling India is the hope of the world. IMF has full faith in India’s G-20 leadership and that it can handle other countries of the world as well.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that the international community has great faith in India’s leadership (Prime Minister Narendra Modi) in the G-20 grouping amid persistent economic slowdown and social tension in the world. Georgieva said on Thursday that India, the chair of the G20 group, remains one of the countries performing far better than the global average. India formally took over the chairmanship of the G20 group on December 1. Georgieva said that we have great faith in India’s leadership as the G20 Chair. Because this is a critical time for the world to preserve its well-being by protecting an integrated global economy.

The IMF has expressed hope that India will prove to be a ray of hope for the world in this difficult time. The IMF said that by keeping us together, it is expected that India will be able to serve the wider world. Appreciating Indian efforts towards digitization, she said, “It is working very well for India as it has carried out digitization accelerated by the COVID-19 pandemic. Digitization is both public policy and private sector development.” The combination of digital identity and digital public infrastructure has enabled India to shift policy support to digital platforms. “This allows India to target those very well,” she added.

The IMF said that India has made some painstaking reforms which are now paying off. In today’s era, India is more concerned about the happenings in the rest of the world than domestic factors. Georgieva said, “India is certainly affected by events in Asia. Its neighbors Sri Lanka and Pakistan remain unstable. China is slowing down so dramatically that it is affecting the whole of Asia. It is a matter of great relief for the world that India is strong.

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