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In challenging times, India can play a key role in forging solutions on debt, climate and IMF quota review, International Monetary Fund’s Deputy Managing Director Gita Gopinath said while meeting Finance Minister Nirmala Sitharaman on the sideline of the IMF- WB (World Bank) spring Meeting 2022 earlier this week.
Sharing a photo with Sitharaman on Twitter, she also expressed, ‘happy to reconnect’.
Sitharaman visited the US earlier this week to attend several events including Spring meeting of the International Monetary Fund (IMF) and World Bank, the Central Bank Governor Meeting (FMCBG) and the G20 Finance Ministers meeting.
On meeting Gopinath, the two discussed India’s upcoming presidency in G20. India will hold the Presidency of the intergovernmental forum of the European Union and 19 other countries between December 1, 2022, and November 30, 2023.
IMF has recently slashed India’s projected growth rate to 8.2 after estimating it to be 9 per cent earlier this year, citing the impact of high oil prices on consumer demand and private investments.
In 2021, India registered a growth rate of 8.9 per cent. By 2023, India is estimated to grow at 6.9 per cent, the IMF said. The global growth has been projected at 3.6 per cent in 2022, down from 6.1 per cent in 2021, the IMF said in its annual World Economic Outlook report.
On the sidelines of the event, the IMF chief also met UK Chancellor Rishi Sunak. The two discussed the economic outlook and risks to globalization. “Thanks to the UK for their many contributions to the IMF," she said on Twitter.
