The chief economist of the International Monetary Fund (IMF), Olivier Blanchard, said today he does not expect a hard landing in Brazil, India and China, despite the recent economic slowdown in these countries.
“The low growth in developed countries is affecting the emerging economies,” Blanchard said at a news conference.
“Besides, they also have some domestic issues, like political uncertainty affecting domestic demand in India, and more restrictive policies in Brazil in response to the earlier boom,” said the IMF’s chief economist.
“But we don’t see these developments as a sign of hard landing in any of these countries,” he said. “In fact, we see positive steps being taken in all these countries. But they suggest lower growth for some time, the lowest we’ve seen for some time.”