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Ready to strengthen dialogue with India amidst pandemic: IMF

Ready to strengthen dialogue with India amidst pandemic: IMF

International Monetary Fund spokesperson Gerry Rice on Thursday said that it is set to strengthen its dialogue and scale up its technical collaboration with India amidst the pandemic.

"Our great sympathies and support to the people of India, and what is happening there relative to the pandemic, to those who have lost their lives and are suffering as a result of the COVID-19 crisis," said Rice, Director of the communications department, IMF.

"We are following the events in India very closely. And we hope that the number of new infections will continue to decline," Rice added.

Responding to questions on engagement with Indian authorities, he said, "We stand ready to strengthen our dialogue and scale-up our technical collaboration. The human tragedy in India is a stark reminder that the pandemic continues to be a grave threat globally. At the IMF, we are redoubling our effort to foster global collaboration."

Stressing that a multilateral response is important to overcome the pandemic, the world organization welcomed the support offered to India by different countries.

"On the economic impact, India is an important economy globally. We will be revisiting our growth forecast for India and for the global economy in July," he said, adding that the IMF will update it in its July World Economic Outlook Update.

Suggesting measures to overcome the economic crisis brought about by the pandemic, he said, "For India, on the economy, it will be critical to continue with a coordinated policy response to fight the pandemic including through accelerating the vaccination campaign, providing fiscal resources to the health sector, and social support to the most vulnerable. We see these as the immediate policy priorities."

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