IMF pegs India economic growth rate at 5.9% in 2013
- PM Modi's 'strategic restraint' choice: A virtue or a necessity?
- PM to people of Pak: Let’s go to war against unemployment, poverty... let’s see who wins
- Uri attack: Odia BSF jawan succumbs to injuries, death toll rises to 19
- Rain havoc in Telangana: Death toll rises to 8 in Medak
- Kashmir: Curfew imposed in Kishtwar following arrest of 3 charged with sedition
Growth in the United States is forecast to average two per cent in 2013, rising above trend in the second half of the year, the IMF said.
In the United States, the priority is to avoid excessive fiscal consolidation in the short term, promptly raise the debt ceiling, and agree on a credible medium-term fiscal consolidation plan, focused on entitlement and tax reform, it said.
In China, IMF report said ensuring sustained rapid growth requires continued progress with market-oriented structural reforms and re-balancing of the economy more toward private consumption.
In other emerging market and developing economies, requirements differ, it said.
The euro area, it said, continues to pose a large downside risk to the global outlook.
In particular, risks of prolonged stagnation in the euro area as a whole will rise if the momentum for reform is not maintained.
- Across the aisle: In search of a Pakistan policy
- Fifth column: War, not terrorism
- Out of my mind: The Chinese way
- Inside track: Keeping him away
- In both India and Pakistan, war and peace are used to make political gains
- PM Modi’s strategy of escalation vis a vis Pak seems like a gamble, but not without calculation.