India cenbank chief Rajan says world needs stronger multilateral agencies
[MUMBAI] Reserve Bank of India Governor Raghuram Rajan on Monday called for stronger multilateral agencies that can steer global coordination in tackling economic and monetary policy issues, adding emerging markets needed to be part of that debate.
Rajan also called on the International Monetary Fund to be more inclusive and not just driven by the needs of industrialised countries, while noting the agency needed to more closely examine "extreme" policies by global central banks.
The RBI governor, at a speech in Mumbai, also urged the need for global "safety nets," while noting one proposal could be foreign exchange swap lines mediated and backed by the IMF.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Japanese AI tool predicts when recruits will quit jobs
India votes in gigantic election dominated by jobs, Hindu pride and Modi
Britain’s retail sales disappoint in sign of lacklustre recovery
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election