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India Deserves To Be Called Bright Spot, Says Kristalina Georgeiva The IMF MD also said that India will leave a mark in the areas of digitalization and digital money

By Teena Jose

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Kristalina Georgeiva Twitter handle

International Monetary Fund (IMF) managing director Kristalina Georgieva, on Thursday, said that the country was a fast-growing economy, even during these difficult times. The statement came on the backdrop of India's economic trajectory and its G20 presidency, while speaking at a press conference during the annual meetings of the Fund and the World Bank.

"India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly, this growth is underpinned by structural reforms," said Georgeiva.

The IMF MD said that India is taking over the G20 from this position of strength and it could leave a mark on the world for years to come. She also expressed the confidence that next year will make all Indians proud while mentioning the digitalization, digital money, cross border payments, renewable energy and making international institutions fairer as areas where India can make a mark.

The IMF's top official said that India will leave a mark in the areas of digitalization and digital money.

"Among the remarkable success in digitization in India, from digital ID to providing all services and support on the basis of digital access, digitization is playing a major role in India's success. We know that we need regulation of crypto, we know that we need to get some more attention to cross-border payments, we are proposing public investments in the infrastructure of the cross border payments platform," said Georgeiva.

While responding to a question of India's G20 presidency next year, Georgeiva said, "The country is now stepping into taking the lead in G20 from that position of strength. India can play a role in bringing more fairness to IMF. India has been a very strong voice for the Fund to be financially strong and also to be a strong institution on the basis of fair representation of members."

The statements by the IMF chief came at a time the IMF cut India's FY23 GDP forecast to 6.8 per cent from its earlier projection of 7.4 per cent.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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