AMN
Prime Minister Narendra Modi has said reform of global institutions has to be an on-going process. Addressing the International Monetary Fund (IMF) Conference in New Delhi today, Mr. Modi said it must reflect changes in the global economy, as also the rising share of emerging economies. He said, the policies need to be pursued to provide a stable macro-economy, enhance growth and further inclusion.
Prime Minister said many knowledgeable people have said that the 21st century is and will be the Asian century and it is the ray of hope for global economic recovery. Mr. Modi said India has a special place in Asia and has shown that a large diverse country can be managed in a way that can promote economic growth and maintain social stability.
India and the IMF have organised a 3-day conference on the theme of Advancing Asia Investing for the Future starting today in New Delhi.
India and IMF today sign an agreement to set up SARTTAC
Meanwhile India and the International Monetary Fund (IMF) have signed an agreement to set up a South Asia regional centre for training officials in dealing with macro-economic and financial issues. A memorandum of understanding (MoU) to set up the centre was signed by Finance Minister Arun Jaitley and IMF Managing Director Christine Lagarde in New Delhi in the presence of Prime Minister Narendra Modi.
The South Asia Regional Training and Technical Assistance Center or SARTTAC will become the focal point for planning, co-ordinating and implementing IMF’s capacity development activity in the region on a wide range of issues. SARTTAC will offer courses and seminars for policymakers from the six countries of SAARC.
India, Australia and the Republic of Korea have pledged financial support for the centre.