India to be hit hard by slowdown: IMF

Bulgarian economist, Kristalina Georgieva, stated that she anticipates an economic slowdown in 2019 in 90% of the world during her maiden speech as the new managing director of the International Monetary Fund (IMF). “This widespread deceleration means that growth this year will fall to its lowest rate since the beginning of the decade” she noted. She attributed this to trade disputes, such as the commercial war between Washington and Beijing, along with geopolitical tensions such as Brexit.

In her opinion, economic activity is softening in advanced economies, such as the US, Japan and, especially, the Eurozone, while in other emerging markets such as India and Brazil, the slowdown is even more pronounced this year.