IMF's chief economist Gita Gopinath spoke exclusively to Rahul Kanwal, News Director, India Today and Aajtak at the WEF meet in Davos. She elaborated on the global fallout of India's slowdown. She said the financial sector was most stressed and there was a sharp decline in credit growth. She stated that there needs to be an urgency in addressing weakness in credit growth. But she also pointed out that significant recovery was coming in due to the monetary stimulus in the system. But the government should come up with reforms and there should be quicker recapitalisation of banks in order to bring about quick recovery. She also indicated that countries which witnessed social unrest also suffered economically. Watch the video for more.
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