She has warned that the global economy is witnessing a “synchronised slowdown” that will result in slower growth for 90 per cent of the world this year. “In some of the largest emerging-market economies, such as India and Brazil, the slowdown is even more pronounced this year. Last Friday, the Reserve Bank of India had lowered India’s GDP growth estimate for the year to 6.1 per cent from the earlier 6.9 per cent. The global economy is now in a synchronised slowdown,” Georgieva said on Tuesday in her curtain-raiser speech for the annual meeting of the IMF and the World Bank here next week. “The right reforms in the right sequence could double the speed at which emerging markets and developing economies reach the living standards of the advanced economies,” Georgieva said.

Source: The Telegraph October 10, 2019 00:00 UTC