India a bright spot in dark horizon: IMF chief on economy

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday that India is ready to lead the G20 countries with a strong position and will make a mark on the world as G20 President next year. will leave India will chair the G20 for one year from December 1, 2022. India is expected to host over 200 G20 meetings across the country during this period. The G20 Leaders' Summit at the level of Heads of State or Government will be held in New Delhi from September 9-10, 2023.

Speaking to reporters on the sidelines of the annual meeting of the IMF and the World Bank, Georgieva said, "India deserves to be called a center of hope in this gloomy environment. It is a fast growing economy, even in these difficult times. Most importantly, this growth is based on structural reforms.He further said that India is ahead in structural reforms and has achieved remarkable success in digitization. Georgieva said, "Therefore, the country is now moving forward in the G20 with a strong position. In such a situation, I am confident that India will leave a deep impression on the world during the presidency (of the G20) next year.

He said that this imprint could be in the field of digitization including digital money. This could be in the area of ​​bringing more fairness to the institutions.

IMF Chief Economist Pierre Oliver Goreinches also lauded India's digitization efforts, saying on Wednesday that the move has been a "major change" as it has made it possible for the Indian government to do things that would otherwise have been extremely difficult.

Talking about India's digitization efforts, Gorinches said, "Digitalization has been helpful in many aspects. The first is financial inclusion because in countries like India there are a large number of people who are not connected to the banking system. Now having access to a digital wallet has enabled them to transact.