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China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly aging population, the International Monetary Fund (IMF) said Friday.And an IMF report on Friday forecast growth to decline further to 3.5 percent by 2028 "amid headwinds from weak productivity and population aging", adding that "uncertainty surrounding the outlook is high".
Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity levels and fuel global growth, the IMF chief told AFP. AI will affect 60 percent of jobs in advanced economies, the International Monetary Fund's managing director, Kristalina Georgieva, said in an interview in Washington, shortly before departing for the annual World Economic Forum in Davos, Switzerland."We must focus on helping low income countries in p
The IMF report said India is on track to be one of the fastest-growing major economies in the world. India rebounded strongly from the pandemic, with growth surpassing pre-pandemic levels, despite the headwinds major global economies are facing
The report says that if 5 percent of the agriculture workforce were to shift into either services or manufacturing, it could contribute up to 1.2 percentage points to value added growth
The US economy is on a "very narrow path" to avoiding a recession, the International Monetary Fund's chief economist says, while warning of risks to China's strong post-pandemic recovery."But it's a very, very narrow path," he warned.
The working paper 'Stacking up the Benefits Lessons from India's Digital Journey" said that the core tax administration operations rely heavily on DPI initiatives, where Aadhaar is expected to revolutionize tax administration compliance activities by promoting the consistency of registers across public agencies.
The working paper 'Stacking up the Benefits Lessons from India's Digital Journey" said that India's stack's development is guided by a foundational building blocks approach, and a focus on supporting innovation across the ecosystem.
India has developed a world-class digital public infrastructure (DPI) to support its sustainable development goals with its journey having lessons for other countries embarking on their own digital transformation, IMF has said in a working paper, noting that digitalization has supported formalization of India's economy and Aadhaar has helped in direct transfer of payments to beneficiaries while reducing leakages
The report also highlighted that the global economic recovery has been uneven, with some countries and sectors recovering faster than others. This uneven recovery has led to growing economic imbalances and vulnerabilities, which could increase the risks of financial instability.