No choice: IMF says developing countries must cut spending despite war shock
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Summary
"Unfortunately, after years of the global economy being hit by shock after shock, debt levels have increased quite a lot, and at the same time, inflation has become a problem," says IMF deputy director of research
Key Facts
TypeNews
SourceThe Hindu - Business
PublishedTuesday, 13 October 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
R&D spending: 0.7% of GDP
Key Authorities
Key Stakeholders
Government Context
NDA IIIBJP-led NDA
LeftCentreRight