Gita Gopinath said the IMF was closely tracking developments on the Omicron.
IMF chief Gita Gopinath spoke to NDTV on the pandemic, vaccine inequity amid Omicron threat, and economic challenges and opportunities in India. Ms Gopinath underlined the need for vaccination "on a war footing".
Here are the highlights:
- Still making a determination of how severe Omicron is going to be
- Need to prioritise vaccine deliveries
- Big demand for booster doses, worried may have lower supplies to less-income countries
- Challenging times, as for many emerging developing countries like India, while there has been recovery, its not been complete
- Need to be vigilant on inflation
- Had an excellent meeting with PM Modi
- Touched on different issues. climate change etc
- Worried, if the pandemic goes on, most governments don't have fiscal space to continue to provide large amount of support
- Interest rates are going to go up in US, advanced economies, important to have good medium term fiscal consolidation plans
- Been a challenging, exhilarating journey
- I'm a workaholic, don't complain about being awake at odd hours
- Given the challenges, felt I'll stay on for longer, these are going to be challenging times
- Grew up in Mysuru, took my first class in economics at Lady Shri Ram College
- Important to not put restrictions to vaccine exports, medical equipment
- Demand for goods has grown strongly at a time when people cannot spend on services
- People are purchasing online, huge demand trade and that is creating disruption
- Growth potential for India remains, large, young labour force - challenges on them getting last skills remain
- Reforms that have been going on is encouraging
- Privatisation of Air India I think is a very good step
- Don't think good economics is bad politics
- Very important to make sure cash transfers to the poor during pandemic- all of that was good economics and I guess good politics too
- Studied problems that trying to do reforms that are trickier
- Timing of certain reforms is very important
- Quite worried on 2 years of no school for children
- Message to India's Government: Make sure, vaccination happens on a war footing
- Recovery, we've seen it after Delta but it is not done, not complete- a big gap where India would have been in the absence of the pandemic and where it is...need to clearly communicate how will the fiscal and monetary framework be dealt with
- Make sure there is enough spending on health, education, infrastructure and on climate change