India among few bright spots in global economy : IMF

INVimfDuring the meeting of G20 Finance Ministers and Central Bank Governors yesterday, the International Monetary Fund (IMF) chief Christine Lagarde said India is among the few bright spots in the global economy. The meeting in Ankara was held against the backdrop of concerns over the Chinese economic slowdown looming over world markets.

Officials at the meeting quoted Lagarde as saying among emerging economies if there is any growth, that is in India.

Policy makers from South Korea, Australia, China and the US were among those present at the meeting.

India deprecated the recent devaluation of major currencies and said currency devaluations at a time when the global demand is sluggish is a major threat to stability in the global economy.