Do we need to believe International Monetory Fund(IMF)?
By sunstar402
@sunstar402 (676)
India
July 9, 2009 7:42am CST
Hello friends,
Information from IMF need to be taken with a pinch of salt. Did IMF predict current recession? NO. Then how can they say that things will be better. Indian software exports depends on IT work from USA. If USA is still reeling under recession, there may not be enough work outsourced.
1 response
@tarachand (3895)
• India
31 May 11
An answer after two years. The recession has come and gone, there have been a few shake ups and some adjustments and the world seems to be coming back on its feet again after the recession that suddenly hit - it was there for all to see before it happened, but like one can't see one's nose, the greatest economists missed out completely.
We now live in a flat world says Thomas Friedman, and from the financial perspective he is right. Most of the countries in the world are inter-connected financially, either directly or indirectly.
India with its huge internal consumption didn't feel the downturn as some of the other global major economies did, and most of the India software companies managed to ride the rough and come out stronger, despite Obama's talk of the US being Bangalored.
Rest assured there was and is enough work for the Indian IT companies.
