The International Monetaty Fund (IMF) lowered its global growth forecast for 2021 citing supply chain disruptions and health concerns. In its World Economic Outlook report, the fund also raised inflation forecast due to price pressures. Prices from food to vehicles have risen globally, threatening a post-pandemic recovery.
India was a contrarian. The country’s retail inflation cooled off to a five-month low of 4.35% in September due to a sharp dip in food price inflation. Domestic industrial output growth also accelerated to 11.9% in August, driven largely by a statistical effect of a low base — August 2020 had recorded a 7.1% contraction.
U.S. Treasury Secretary Janet Yellen will host the next round of India Economic and Financial Partnership (EFP) meet with her Indian counterpart Union Finance Minister Nirmala Sitharaman.
Concerns about China’s Evergrande continues. Two board members of embattled developer…