G20 Summit: IMF Chairman Arrives In Delhi, Greeted In Customary Manner

IMF Chairman and Managing Director Kristalina Georgieva arrived in the nation’s capital on Thursday in order to attend the G20 Summit, which will be held on September 9–10. At the airport in New Delhi, Kristalina Georgieva was given a hearty greeting along with a display of local dancing.

IMF Chairman dances to Indian beats

To greet the IMF chief, a cultural group performed a traditional folk dance. She enjoyed their dance and even gave it a shot on her own. Despite global challenges including climate change and the Russia-Ukraine war, the IMF recently predicted India will grow at a 6.1% annual rate during this fiscal (April 2023–March 2024).

IMF praised India

The IMF in October last year praised India as a “bright spot in a dark horizon” due to the rapidly growing economy even in these difficult times. It has also stated that the country will leave a mark on the world for years to come during next year’s presidency of G20.

Despite persistent economic worries worldwide, India’s GDP is currently rising at the quickest rate of any major economy. In the first quarter (April to June) of 2023–2024, it experienced GDP growth of 7.8%. In the second quarter of 2023, the Chinese economy expanded by 6.3% year over year.

“India deserves to be called a bright spot in this otherwise dark horizon because it has been a fast-growing economy, even during these difficult times, but most importantly, this growth is underpinned by structural reforms,” Kristalina Georgieva said.

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Georgieva excited for G20 Summit

Georgieva had expressed hope for seeing more engagement under India’s leadership in G20. “India is the next chair of G20 and they are very committed to a strong quarter-based well-resourced IMF and we might see more engagement that comes under their leadership,” she said.

Georgieva praised India’s digital economy and stated that the key to its exceptional success is the digital ID, which offers all services and assistance based on “digital access.” She continued by saying that India’s progress is greatly influenced by digitalization.

Talking about renewable energy, IMF’s Managing Director said, “India has really leapfrogged in terms of solar and other forms of renewable energy. So I very much look forward to next year and I am sure that it would make the people of India, the whole nearly one point four billion of them very proud.”