India, China to account for half of global economic growth in 2023: IMF

The International Monetary Fund has said that the world economy is expected to grow at less than 3 per cent this year, with India and China expected to account for half of global growth in 2023. International Monetary Fund (IMF) managing director Kristalina Georgieva warned that a sharp slowdown in the world economy last year following the raging pandemic and Russia's military operation of Ukraine would continue this year. In a statement, Georgieva said the period of slower economic activity will be prolonged, with the next five years witnessing less than 3 per cent growth.

IMF Managing Director @KGeorgieva identifies 3 priorities for action to promote global growth and a robust recovery.
✅Fight inflation & safeguard financial stability
✅Improve medium-term prospects for growth
✅Foster solidarity to reduce global disparities
Read her speech⬇️

— IMF (@IMFNews) April 6, 2023

However, she said some momentum comes from emerging economies - Asia especially is a bright spot. India and China are expected to account for half of the global growth in 2023. But others face a steeper climb.  Georgieva said slower growth would be a severe blow, making it even harder for low-income nations to catch  She explained  Poverty and hunger might further increase which is a dangerous trend that was started by the COVID crisis,".Her comments come ahead of next week's spring meetings of the IMF and the World Bank, where policy-makers will convene to discuss the global economy's most pressing issues.