Economy

Prepare for attack by government Ministers on IMF, Gita Gopinath: Chidambaram

P. Chidambaram

P. Chidambaram   | Photo Credit: Shiv Kumar Pushpakar

P Chidambaram alleged that the growth figure of 4.8% given by IMF is after some ‘window dressing’ and that he wouldn’t be surprised if it goes even lower

Former Finance Minister P. Chidambaram on Tuesday claimed that the International Monetary Fund (IMF) and its chief economist Gita Gopinath should be prepared for an attack from ministers of the Union government after the world body lowered India’s economic growth estimate for the current fiscal to 4.8%.

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In a series of tweets, Mr. Chidambaram also claimed that he will not be surprised if the actual growth was even lower as the growth figure of 4.8% given by the IMF is after some “window dressing”.

“Reality check from IMF. Growth in 2019-20 will be BELOW 5% at 4.8%. Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower,” he tweeted. Noting that the IMF Chief Economist was one of the first to denounce demonetisation, Mr. Chidambaram said, “I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath.”

On Thursday, the IMF lowered India's economic growth estimate to 4.8% for the current fiscal and stated that the country’s much lower-than-expected GDP numbers are the single biggest drag on the Fund’s global growth forecast.

The Congress’s official handle said the assessment would make the IMF and its chief economist open to attack from the BJP’s IT Cell. “Now that IMF has placed significant blame for the global economic slowdown on India, what do you think the BJP IT Cell will do? Trend #BoycottIMF, Discredit Gita Gopinath, Spread Fake News about IMF or Troll Gita Gopinath,” the Congress asked on Twitter.

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Printable version | Feb 20, 2020 7:02:57 AM | https://www.thehindu.com/business/Economy/prepare-for-attack-by-government-ministers-on-imf-gita-gopinath-chidambaram/article30613188.ece

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