India has been growing “pretty robustly”, World Bank President Jim Yong Kim said on Wednesday, adding that there was now a “levelling-out in developing economies”. Speaking at the Bloomberg Global Business Forum, he predicted strong global growth this year, PTI reported.
He mentioned India, Japan, Europe and the United States in his address. “A country like India is growing, has been growing pretty robustly,” he said. “We think, Japan is growing. Europe is growing in a much more healthy way. The United States continues to grow.”
The World Bank chief also called for more cooperation between the multilateral system, the private sector and the governments. “Dormant capital will earn a higher return, where developing countries will have access to much more capital for the infrastructure needs, even for investing in health and education, investing in resilience to climate change and other factors,” he added.
He said in terms of indebtedness, the bank was watching very carefully the debt-to-GDP ratios of every single country.