|Global slowdown effects more pronounced in India: IMF chief|
WASHINGTON, Oct 9 - The largest emerging market economies like India are experiencing an even “more pronounced” effect of the global downturn, new IMF chief Kristalina Georgieva has said, warning that the global economy is witnessing “synchronized slowdown” which will result in slower growth for 90 per cent of the world this year.
The Managing Director of International Monetary Fund (IMF) pointed out that the widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade. She said the World Economic Outlook to be released next week will show downward revisions for 2019 and 2020.
“In 2019, we expect slower growth in nearly 90 per cent of the world. The global economy is now in a synchronized slowdown,” Georgieva said on Tuesday in her curtain raiser speech for the IMF and World Bank’s annual meeting here next week. – PTI