IMF Supports India's Policy Response to Fight COVID-19 - Spokesperson
The International Monetary Fund (IMF) supports India's actions in fighting COVID-19 including its fiscal stimulus targeting workers, IMF spokesman Gerry Rice told reporters on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 10th September, 2020) The International Monetary Fund (IMF) supports India's actions in fighting COVID-19 including its fiscal stimulus targeting workers, IMF spokesman Gerry Rice told reporters on Thursday.
"The immediate priority is a coordinated policy response to fight the virus.
In this context, we support the government's responses to pandemic, including fiscal stimulus with a focus on low income workers," Rice said during the virtual press briefing.
Fiscal consolidation, monetary easing and other measures are also important, he added.
The severe impact of the global pandemic caused weaker preliminary GDP estimated for the second quarter of 2020 than previously expected, Rice said. The IMF predicts significant downside risks for India due to COVID-19, he noted.
The near-term outlook continues to be "clouded" by the global and domestic slowdown, he added.