International Monetary Fund: During a media roundtable discussion on Thursday about Russia's invasion of Ukraine and its global impact, Gita Gopinath, the IMF's First Deputy Managing Director, noted that the war has put economies worldwide, including India, under strain.
Source : IPOINFO
Georgieva Kristalina
India has done an excellent job managing its finances, but the rise in global fuel prices will have a negative impact on its economy, according to Kristalina Georgieva. The International Monetary Fund's Managing Director.
India's Reserve Bank
"India is highly dependent on energy imports, and the cost is increasing. This has an effect on Indian households' purchasing power. "If you look at headline inflation figures, India is close to or above 6%, which is the upper limit of the inflation band. Gopinath stated, "For the Reserve Bank of India."
This has implications for the country's monetary policy, and it presents a challenge. She stated that it occurs in numerous parts of the world, not just India. "Clearly, the most significant channel of impact on the Indian economy is energy prices," Georgieva stated.
Managing Director, International Monetary Fund
India is an importer, and the rise in energy prices will have a negative impact, she stated. "India has been extremely adept at managing its finances," he continued. She highlighted that there are some financial spaces available to respond to the challenge in a similar manner.
"Our advice to our members is to priorities protecting the most vulnerable populations from price spikes, not just in energy but also in food prices for countries. This will play a significant role," the IMF managing director stated.
"Allocate your fiscal resources to those who are in desperate need of assistance. Additionally, we would examine monetary policy responses. "However, they must be calibrated appropriately to what is occurring," Georgieva added.