Gita Gopinath said the IMF was closely tracking developments on the Omicron.
New Delhi:
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
