Washington, October 10: Finance Minister Pranab Mukherjee today said the global economic recovery is fragile and cautioned that emerging economies may not be as resilient in the face of another crisis.
“Countries are recovering at different rates. Growth is well below potential. And the recovery is fragile. There is a constant danger of recovery being derailed by unexpected shocks,” he said in his address to the International Monetary Fund and World Bank Group Development Committee Meeting.
He further cautioned that the world economy is passing through a lot of uncertainty. The financial and economic crisis is yet to run its full course and economies have yet to fully recover from its after-effects, he added.
“Through coordinated action, we were able to avert a prolonged recession …The prospects are, however, full of uncertainties. Recovery continues across the world, but it is uneven,” he said.
–Agencies