New Delhi: India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday.

“India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly,this growth is underpinned by structural reforms,” Georgieva said.

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India deserves to be called a bright spot on this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly,this growth is underpinned by structural reforms: Kristalina Georgieva, Managing Director, IMF

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— ANI (@ANI) October 13, 2022

The IMF also predicted a 25 per cent probability of a global recession.

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“The World Economic Outlook shows a one in four chance, in other words, a 25 per cent chance that global growth could drop to a historic low of 2 per cent next year,” Giorgieva said at a press conference.

She added that the IMF estimated that two-thirds of the world would experience two or more quarters of negative growth.

However, she emphasized a global recession could be avoided if countries worked together.

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