The IMF on Thursday welcomed a recent announcement by the Indian government to facilitate access to vaccination and ramp up the production of essential medicines to fight the COVID-19 pandemic.
Prime Minister Narendra Modi on Monday announced that the central government will provide free coronavirus vaccine to states for inoculation of all above the age of 18 from June 21, and asserted that vaccine supply would be increased significantly in the country in coming days to fight the COVID-19 pandemic.
The International Monetary Fund welcomes the Indian government's announcement to facilitate access to vaccinations and to provide additional support to minimise the social costs of the pandemic and to relieve the very human costs of the pandemic. We strongly welcome the government's announcement on that point, IMF's Spokesperson Gerry Rice told reporters during his fortnightly news conference.
Rice said the second wave and associated containment measures suggest a sharp fall in India's economic activity.
The IMF will be revising India's growth forecast in its next World Economic Outlook update, scheduled to be released next month.