The International Monetary Fund has said it broadly supports the series of economic reforms undertaken by India, which is moving in the right direction.
The IMF has encouraged both the UK and the EU to work collaboratively towards a smooth transition.
The IMF believes the farm laws passed by the Indian government have the potential to represent a significant step forward for agricultural reforms, but a social safety net is needed to protect those who might be adversely impacted during the transition to the new system, a spokesperson of the global lender said in Washington.
The International Monetary Fund (IMF) said on Thursday that a multilateral response is critical to overcome the COVID-19 pandemic in India and globally as it hailed recent announcements by several countries to provide immediate support to India. India is struggling with a second wave of the pandemic with more than 300,000 daily new coronavirus cases being reported in the past few days, and hospitals are reeling under a shortage of medical oxygen and beds.
The IMF expressed its opposition to any move that compromises the independence of central banks anywhere in the world.
the GDP estimates incorporate new source data and modified compilation techniques
Recognising that peaceful protests are a hallmark of a thriving democracy, the United States has said that it encourages dialogue between the protesting farmers and the Indian government to resolve their differences.
IMF chief Christine Lagarde has been put under formal investigation by French magistrates for alleged negligence in a political fraud affair dating from 2008 when she was finance minister.
11th-hour debt restructuring programme offered no concessions to creditors
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