It is too early to predict impact of global turmoil on India: IMF
It is still "too early" to say what impact the recent financial market turmoil will have on India for no country is going to be "exempt from the global slowdown", a senior official of the International Monetary Fund (IMF) said today.
By PTI |
WASHINGTON: It is still "too early" to say what impact the recent financial market turmoil will have on India for no country is going to be "exempt from the global slowdown", a senior official of the International Monetary Fund (IMF) said today.
"Nobody is exempt from a global slowdown," Simon Johnson, the Economic Counsellor and Head of the Research Department of the Fund, told media.
"India has relatively less trade exposure than some other countries. So that will limit the effects. India also appears not to have been drawn in through the financial mechanism. We don't think there is substantial exposure there," he added.
"So that is very good news for India. We were looking very closely at the Indian situation for the forecast. It is still too early to tell... Nobody is going to be exempt," the senior IMF official maintained.
"Nobody is exempt from a global slowdown," Simon Johnson, the Economic Counsellor and Head of the Research Department of the Fund, told media.
"India has relatively less trade exposure than some other countries. So that will limit the effects. India also appears not to have been drawn in through the financial mechanism. We don't think there is substantial exposure there," he added.
"So that is very good news for India. We were looking very closely at the Indian situation for the forecast. It is still too early to tell... Nobody is going to be exempt," the senior IMF official maintained.
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