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IMF pegs India economic growth rate at 5.9% in 2013

Jan 23 2013, 21:18 IST
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SummaryIMF in its update to the World Economic Outlook said it may be higher than estimated.

requirements differ, it said.

The euro area, it said, continues to pose a large downside risk to the global outlook.

In particular, risks of prolonged stagnation in the euro area as a whole will rise if the momentum for reform is not maintained.

"Adjustment efforts in the periphery countries need to be sustained and must be supported by the centre, including through full deployment of European firewalls, utilisation of the flexibility offered by the Fiscal Compact, and further steps toward full banking union and greater fiscal integration," the report said.

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