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IMF MD Praised India: International Monetary Fund (IMF) Managing Director Kristalina Georgieva said yesterday that India deserves to be called a bright spot on this dark horizon as it has been a fast growing economy even in these difficult times. It is that this growth is based on structural reforms.” She was speaking on the fourth day of the annual meeting of the IMF and the World Bank at the IMF headquarters here.
“The most important thing is that this growth is based on structural reforms,” Kristalina Georgieva said after the meeting. She was responding to a question on her expectations from India a few days before she took over the presidency of the G20. He also praised India’s digitization process.
Another IMF official praised India
Earlier, Paolo Mauro, deputy director of the Department of Financial Affairs at the IMF, also praised India’s direct benefit transfer scheme. He said, “There is a lot to learn from India. There is a lot to learn from some other examples around the world. We have examples from almost every continent and every level of income. If I look at the case of India, then It’s actually quite impressive.”
World Bank President also praised India
Earlier yesterday, World Bank President David Malpass said that India has taken good advantage of digitization to better prepare social security programs and take its benefits to the poor. According to Malpass, according to the World Bank’s recent report on poverty, some countries have been successful in reducing the impact of the Kovid-19 crisis and poverty through cash transfer systems and digitization. That’s why we welcome it, but I think India can still do a lot on the administrative front to improve efficiency at the federal government level, at the civil society level and within the state.
Malpass said in a press conference after the annual meeting of the International Monetary Fund and the World Bank that, “We should understand the importance of digitization within the world because it also gives an opportunity to poor countries to connect with people across the country.” This facility was not available before digitization and India has made good use of it in creating social security programs and taking its benefits to the poor.
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