 "IMF warns of worsening India Inc financials if protectionism rises in world")
The International Monetary Fund (IMF) on Wednesday cautioned that corporates balance sheets would be hit hardest in India, apart from China and South Africa, in case protectionism rose in the world. It also warned against bad debt situation of banks in India.
"In a scenario of rising protectionism,... the greatest deterioration in corporate balance sheets would occur in China, India and South Africa," IMF said in its Global Financial Stability Report released on Wednesday.
It, however, added that emerging market economies (EMEs) have become more resilient, benefiting from a recovery in global commodity prices and still-supportive external conditions.
Even then, these economies face
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