Indian Express News Feed

The RBI Governor asks the IMF to finish the quota review as soon as possible

<p>Shaktikanta Das, governor of the Reserve Bank, made a case on Friday for the “expeditious completion” of the IMF’s general review of quotas, arguing that doing so would improve the organization’s ability to assist struggling nations.<img decoding=”async” class=”alignnone wp-image-124544″ src=”×422.jpg” alt=” the rbi governor asks the imf to finish the quota review as soon as possible bloombergquint 2022 10 5f444f33 2f64 4dc1 8304 9285bd1ee951 rbi governor 11zon” width=”1358″ height=”764″ srcset=”×422.jpg 750w,×432.jpg 768w,×220.jpg 390w,×84.jpg 150w, 917w” sizes=”(max-width: 1358px) 100vw, 1358px” title=”The RBI Governor asks the IMF to finish the quota review as soon as possible 9″></p>
<p>Das said, “Recent experience suggests that countries facing financial difficulties go to other bodies beyond the IMF because of “perceived stigma” or lack of access,” speaking at a conference on global economy organized by the Ministry of Finance and the Reserve Bank of India (RBI) here.</p>
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<p>“A bigger and stronger IMF that is capable of managing the levels of country risks assumes crucial importance,” added Das.</p>
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<p>He said that the sixteenth general review of quotas and its concomitant conditions, including governance reform, need to be finished as soon as possible since the IMF’s assistance for a nation is dependent on the size of its quota.</p>
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<p>Das said that it is important to consider the financial effects of the transition to a green economy.</p>
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<p>He asserts that there is a pressing need to increase green finance flows, particularly to developing nations.</p>
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<p>He said that a framework for exchanging global debt data has to be created.</p>
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