IMF head gives Indian economy a reason to cheer about
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Indian The agency report reveals, Lagarde is due to give a speech in Delhi today and will meet officials from the Reserve
This comes ahead of a crunch meeting of the
In September 2013, Ben Bernanke, the then chairman of the U.S. Federal Reserve, caused a heavy selloff in the Indian rupee, bonds and stocks when he announced the Fed was to scale back its $80 billion a month quantitative easing programme.
"India has prepared better than most emerging-market economies for any such external shocks," Reuters quoted Lagarde. He further added that India had shrunk its current account deficit and boosted its stock of international reserves.
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In an annual report last week, the IMF said that India's economy is recovering. But growth, which it forecast at 7.5 percent in the fiscal year starting April 1, would fall just below government expectations, Reuters has reported.
(Image: Reuters)
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