 "In a new economic outlook prepared for this week's discussions, the IMF forecast that the global economy will shrink by 3% this year")
A day after International Monetary Fund (IMF) predicted India's growth rate to be 1.9 per cent in 2020, the lending agency on Wednesday said it supported the proactive decisions taken by the government in its fight against coronavirus.
"India entered the pandemic turmoil in the midst of a credit crunch-induced slowdown and its recovery prospect becomes more uncertain," said Chang Yong Rhee, the Director of the IMF's Asia and Pacific Department, news agency PTI reported.
"India entered the pandemic turmoil in the midst of a credit crunch-induced slowdown and its recovery prospect becomes more uncertain," said Chang Yong Rhee, the Director of the IMF's Asia and Pacific Department, news agency PTI reported.
"Despite the economic slowdown, the government implemented a nationwide lockdown and we support India's proactive decision," Rhee added.
India entered a three-week lockdown on
