Second COVID wave could crimp India's long-term growth: Moody's

Source:
PTI
India`s severe second wave of coronavirus infections will slow near-term economic recovery and could weigh on longer-term growth dynamics, rating agency Moody`s Investors Service said in a note on Tuesday.
"Deeper stresses in the economy and financial system could lead to a more severe and prolonged erosion in fiscal strength, exerting further credit pressure," said Gene Fang, Moody`s Associate Managing Director.
India`s COVID-19 crisis showed little sign of easing on Tuesday, with a seven-day average of new cases at a record high and international health authorities warning the country`s variant of the virus poses a global concern.

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