New Delhi: The International Monetary Fund's (IMF) Chief Economist Gita Gopinath on Tuesday said that India continues to be the risk of a third wave. India has been world's fastest growing major economy clocking a growth rate of 9.5 per cent this fiscal year and 8.5 per cent in the next, the IMF noted in its report.
Gopinath said with 50 per cent vaccination, India is high in confidence, but the risk of a third wave remains. “With such a large population, you (India) already have your 50 per cent vaccinated that gives you confidence. But the risk that there could be a third wave remains,” said Gopinath while speaking to an Indian news channel.
India is doing well in terms of vaccination rates and that's helpful but India faces many challenges, she noted. "As of now, you know there are many challenges that the Indian economy always does face with regard to the financial market, with regard to the fact that the virus has not gone yet," Gopinath said.
India has so far administered around 96.7 crore vaccine doses and is expected to cross the landmark of one billion, or 100 crore, next week.
Meanwhile, the IMF's World Economic Outlook (WEO) report kept the gross domestic product (GDP) growth projections it had made in July while India was in the grip of COVID-19's second wave and had cut by 3 per cent its forecast of 12.5 per cent made in April before the pandemic's resurgence.