Gita Gopinath

IMF's Gopinath wants govt to conduct cost-benefit analysis of PLI scheme

India has grown well in terms of its overall growth rate, and at 7 per cent, it is the fastest growing major economy in the world, she said

India will need to undertake more reforms to be able to continue on the path of raising economic growth and to make sure that enough job creation happens in the country, IMF deputy managing director Gita Gopinath said on Saturday. Addressing an event here, Gopinath further said that India will be required to reduce import tariffs if it wants to be an important player in the global supply chains. "The significant improvements have been made by the government over the years in terms structural reforms." While noting that the world is in an environment where trade integration has been questioned, Gopinath said it is important for India to remain open for global trade. "Tariff rates in India are higher than in its other peer economies. If it wants to be an important player on the world stage and an important part of global supply chains, it is going to require reducing those tariffs," the eminent economist said. Gopinath said it is a tremendous aspiration to get to a developed country

India's growth was much better than IMF expectations the last fiscal year and those carryover effects are affecting our forecast for this year, said Gita Gopinath

Georgieva, 70, led IMF's efforts to aid indebted countries through pandemic and has warned about the global economic impact of trade fragmentation caused by worsening US-China relations

IMF Chief Kristalina Georgieva on Thursday said interest rates should keep falling in 2024 but cautioned that there is no room for any policy error as the last mile is "very, very tricky". In an interview with the World Economic Forum here during its Annual Meeting 2024, she said that the central banks should not tighten prematurely because then they may lose the victory that is now in their hands. Expecting the positive trend to continue in 2024, she said, "The inflation rate is going down, on average." The International Monetary Fund's Managing Director, however, flagged the regional discrepancies still persisting around. "What we have now is a very diverse range. In some countries, the job is already done, and inflation is low enough for them to have an accommodative monetary policy. Brazil is one example. And in Asia, many countries did not have an inflation problem to start with," she said. "Central banks should not tighten prematurely because then they may lose the victory th

Affirming that the fight against price rise is not yet over, IMF's Gita Gopinath on Tuesday said interest rates are likely to stay higher than during the period immediately after the global financial crisis. There are expectations though that it will come down sometime this year, the International Monetary Fund's First Deputy Managing Director said. Speaking at a session during the World Economic Forum Annual Meeting 2024 here, Gopinath dismissed the market bets for a cut in interest rates as premature. "The markets are expecting central banks to cut rates pretty aggressively. I think that's a bit premature to make that conclusion. "We should expect rates to come down some time this year but based on the data we see right now, we expect this to be more likely in the second half of this year," she said. She also felt that chances of a deep recession were less likely.

Debt levels are at record high levels at the same time that we're in this higher-for-longer interest-rate environment, said Gita Gopinath, No 2 official at IMF

It's a bit early to know the full implications of the conflict, and much will depend on whether it draws in other countries, Gita Gopinath said

IMF's deputy managing director Gita Gopinath shared a photo with Prime Minister Narendra Modi and complimented him on successfully hosting the G20 Summit

India's message of 'one earth, one family, one future' resonated strongly with all delegates at the G20 Summit, Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund said. "Congratulations Prime Minister Narendra Modi on presiding over such a successful G20," Gopinath posted on X late Saturday night. She said India's message of 'one earth, one family, one future' resonated strongly with all delegates. Modi thanked Gopinath "for the kind words". "It is an honor to host the G20 summit. Our efforts are a testament to the collective spirit of unity and progress," the prime minister said.

She said central banks should be more willing to tolerate inflation below target at a time when unemployment is already low

Union Finance Minister Nirmala Sitharaman on Tuesday had a meeting with Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), during which they discussed debt vulnerabilities and other issues. Sitharaman is leading a high-powered Indian delegation to attend the annual Spring Meeting of the IMF and the World Bank. Sitharaman congratulated Gopinath for accelerating India's work on the Global Sovereign Debt Roundtable along with the World Bank and reiterated India's commitment to foster efforts to address growing debt vulnerabilities, the finance ministry said in a tweet after the meeting. During the meeting, the finance minister noted IMF's concerns on key downside risks to the economy including financial sector stress, rising real interest rates, elevated debt, inflation, geo-political fragmentation, and faltering growth in China, as highlighted in World Economic Outlook World Economy Outlook. Gopinath congratulated the minister on the fruitful

On what needs to change, she said for the countries to manage such a difficult trade-off right, fiscal policy has to play a role

IMF Deputy Managing Director Gita Gopinath has cautioned that India needs to work on labour markets and land, even as she hailed the country for doing better than many global economies

Throwing light on the recent crypto meltdown, she said it was clear that internationally agreed standards of regulations had become necessary

Catch all the latest news from around the world here

Advanced economies will be back on track by 2024, but developing economies will be 5 per cent below where they would have been otherwise, IMF's Gita Gopinath said

"I would say at 3.6 per cent there is a buffer," she said, conceding, however, that risks are uneven around the world

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, IMF's Gita Gopinath said