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ASIA:
The International Monetary Fund (IMF) raised its FY22 growth forecast for India to 12.5% from 11.5% estimated earlier in January, even as a resurgent Covid spread threatens to undermine the country’s economic recovery. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9% in 2022. China, the only major economy to have a positive growth rate in 2020 of 2.3%, is expected to grow by 8.6% in 2021 and 5.6% in 2022.
The major Asian stock markets had a mixed day today:
NIKKEI 225 increased 34.16 points or 0.12% to 29,730.79