Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Impact of economic slowdown 'more pronounced' in India: IMF Chief
  • Business

    Impact of economic slowdown 'more pronounced' in India: IMF Chief

    Shalini Ojha
    Written by
    Shalini Ojha
    Twitter
    Last updated on Oct 09, 2019, 12:39 pm
    Impact of economic slowdown 'more pronounced' in India: IMF Chief
  • The entire globe is facing an economic slowdown, but the effect is more pronounced in emerging economies like India, the chief of the International Monetary Fund (IMF) said on Tuesday.

    Kristalina Georgieva, who was appointed to the post of Managing Director of IMF last month, said the global economy is experiencing a "synchronized slowdown" and governments need to resolve trade conflicts at the earliest.

  • In this article
    She delivered her first speech after taking the top post Things aren't looking great even for advanced economies As per IMF Chief, countries should work together Lowering rate is an option but it might have repercussions We are not stopping: Georgieva In India, economic slowdown is the talk of the town
  • Speech

    She delivered her first speech after taking the top post

    She delivered her first speech after taking the top post
  • Georgieva's statements should alarm the world leaders. She said at this pace, the growth rate will fall to its lowest in 2019-20.

    She said two years ago the entire world was witnessing an upswing in growth.

    "The global economy is now in a synchronized slowdown. In 2019, we expect slower growth in nearly 90 percent of the world," she added in her maiden speech.

  • Statement

    Things aren't looking great even for advanced economies

  • Further, she added countries like the US and Germany are witnessing historic lows as far as unemployment is concerned. Despite this, economic activity has taken a backseat in advanced economies like the US, Japan, and the Euro area.

    "In some of the largest emerging market economies, such as India and Brazil, the slowdown is even more pronounced this year," she asserted.

  • Future

    As per IMF Chief, countries should work together

    As per IMF Chief, countries should work together
  • Painting a grim picture of the future, Georgieva said the "fractures in trade" could have an impact that might last a generation including "broken supply chains, siloed trade sectors, a 'digital Berlin Wall' that forces countries to choose between technology systems."

    As she called upon countries to solve differences, Georgieva complained about China's trade practices, without taking the country's name explicitly.

  • Option

    Lowering rate is an option but it might have repercussions

  • She also said that central banks around the world should maintain lower rates, but this might have repercussions.

    "Our new analysis shows that if a major downturn occurs, corporate debt at risk of default would rise to $19 trillion, or nearly 40 percent of the total debt in eight major economies. This is above the levels seen during the financial crisis," she added.

  • Quote

    We are not stopping: Georgieva

  • "We are decelerating, we are not stopping, and it's not that bad. And yet, unless we act now, we are risking a potential more massive slowdown," the chief, who succeeded Christine Lagarde, said.

  • Slowdown

    In India, economic slowdown is the talk of the town

    In India, economic slowdown is the talk of the town
  • Notably, Georgieva's comments come at a time when things aren't great in India. The GDP growth rate for the April-June quarter was recorded at 5%, the lowest in seven years.

    Meanwhile, the automobile industry is going through its worst-ever crisis, and companies like Tata Motors and Ashok Leyland are forced to reduce production.

    IMF also cut its projection of India's growth rate by 0.3 percentage points.

  • China News
  • India
  • International Monetary Fund
  • Christine Lagarde
  • US
  •  
Latest News
  • #ComicBytes: Interesting facts about the Falcon aka Sam Wilson
    #ComicBytes: Interesting facts about the Falcon aka Sam Wilson
    Entertainment
  • This year's Oscar documentary race has two ex-US Presidents' connections
    This year's Oscar documentary race has two ex-US Presidents' connections
    Entertainment
  • Seema Pahwa's 'Ramprasad ki Tehrvi' to release on Netflix
    Seema Pahwa's 'Ramprasad ki Tehrvi' to release on Netflix
    Entertainment
  • #HealthBytes: The many health benefits of tai chi workouts
    #HealthBytes: The many health benefits of tai chi workouts
    Lifestyle
  • Everything you must know about Genetically Modified Organisms or GMOs
    Everything you must know about Genetically Modified Organisms or GMOs
    Lifestyle
Related Timelines
  • India's GDP contracts by 23.9%; first contraction in 40+ years
    India's GDP contracts by 23.9%; first contraction in 40+ years
    Business
  • We've entered recession, will be worse than 2009: IMF Chief
    We've entered recession, will be worse than 2009: IMF Chief
    World
Trending Topics
Bharti Airtel Mukesh Ambani Twitter WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Twitter Indian Premier League Samsung Virat Kohli
Rohit Sharma Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman
Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Mercedes
James Anderson Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar Premier League
Big Bang Theory X-Men TATA Royal Enfield
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021