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| Politics
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| India Enjoying Robust Economic Grow |
| India Enjoying Robust Economic Growth: International Monetary Fund Chief
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| UNITED STATES OF AMERICA
, 4-February-2016
12:27:44 PM |
| India and Mexico are enjoying robust growth even as emerging economies as a whole are facing the harsh reality of slow growth and reversal of capital flows, International Monetary Fund (IMF) chief Christine Lagarde said today.
She said slow growth in China, decline in commodity prices and asynchronous monetary policies are among the challenges faced by the emerging economies.
In remarks prepared for delivery at the University of Maryland, Ms Lagarde said that after years of success, however, emerging markets as a group are now facing a new, harsh reality.
"Growth rates are down, capital flows have reversed, and medium-term prospects have deteriorated sharply," she added.
According to Ms Lagarde, emerging markets are a group of about 30-50 countries that are in a transition phase - not too rich, not too poor, and not too closed to foreign capital, with regulatory and financial systems that have yet to fully mature.
"These countries are incredibly diverse - culturally, geographically, and even economically. Right now, for example, Brazil and Russia are in recession while India and Mexico are enjoying robust growth. So, it would be a mistake to think of these countries as a homogeneous bloc," she noted.
Last month at the World Economic Forum (WEF), Ms Lagarde had said that as India is growing fast at over 7 per cent, the nature of BRICS bloc has undergone a major change, with each member showing an economic performance very different from the other.
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