Where IMF Went Wrong?
On 12th Jan 2022, IMF predicted that US inflation will cool off in Q2 CY 22, when inflation data came to 7% for Dec 2021. In March 2022, US inflation stood at 8.4%, and for April ’22, it’s expected to inch higher.
In Oct 2021, IMF predicted Saudi Arabia’s economy will grow by 2.4% in CY 21, it clocked a whooping, 3.2% (33% higher).
In March 2021, IMF applauded China’s policy of debt trap on African nations, obviously in polite words, now is in loggerheads with the West. (the IMF’s financiers.)
The IMF played its role in pushing its agenda to countries like Ukraine, and Kazakhstan in the post-1991 Soviet dissolution regime (one of the causes of the Russia-Ukraine War).
In his 2002 book, Globalization and Its Discontents, Nobel Prize-winning economist Joseph Stiglitz denounced IMF as a primary culprit in the failed development policies implemented in some of the world’s poorest countries
In Nov’96, IMF trumpeted the ASEAN’s Sound fundamentals for Sustained economic growth, by July’97, ASEAN Fundamentals changed to the Great Asian Crisis.
Now it is confusing to Investors / Natives of India that India’s economy will slow down & a target of USD 5 trillion will be achieved only in FY 2029 growing ~ @6.8% with 94.40 INR to a USD.
Can the estimates, projections & predictions of the IMF be relied upon with its chequered history?
Rethink
Every Indian need to persevere to prove that the Agenda of Indirect Colonialism be curtailed and Atma Nirbhar Bharat to become not a USD 5 trillion but a USD 10 trillion by 2032.
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