International Monetary Fund
India's GDP growth was forecast to dip in 2022 calendar year to 5.9 per cent, according to the report.
World Bank President David Malpass welcome countries that are keeping open their export markets, and also countries that are able to change their subsidy systems in order to allow more food availability.
The virus is still spreading rapidly worldwide, with over one million deaths and 37 million infections.
India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, IMF said
Argentina is hoping to renegotiate repayments on the debt agreed in 2018 under previous president Mauricio Macri.
In an opinion piece published on the Financial Times on Thursday, the IMF chief said even though the resilience of the financial system has been significantly strengthened after the 2008 financial crisis
"I am calling on Governments to ensure that spending to revitalise economies should accelerate the decarbonisation of all aspects of our economy and privilege the creation of green jobs."
The government has imposed harsh austerity measures in recent years to try to reduce its deficit, including cutting subsidies on fuel and electricity.