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IndiaSecond COVID wave could crimp India s long-term growth -Moody s
Swati Bhat
3 minute read
People walk at a crowded market amidst the spread of the coronavirus disease (COVID-19), in the old quarters of Delhi, India, April 6, 2021. REUTERS/Anushree Fadnavis/File Photo
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.
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.