We’re satisfied G-20 took up India’s concerns, says P. Chidambaram

Feb 24 2014, 03:52 IST
Comments 0
SummaryThe minister said "yes", when asked whether he was satisfied with the G20 communique.

Satisfied with the outcome of G20 meeting, finance minister P. Chidambaram on Sunday said India's concerns with regard to withdrawal of US stimulus and the need to expedite IMF quota reforms have been taken on board by the group of rich and developing nations.

"The communique has been drawn by the deputies sitting together and our concerns have been fully reflected in the communique," he told PTI in an interview after conclusion of the G20 Finance Ministers and Central Bank Governors meet.

The minister said "yes", when asked whether he was satisfied with the G20 communique.

The communique was released at the end of the conference which among others was attended by finance ministers of several important countries including the US, Japan, France and Australia.

Representatives of global bodies like the International Monetary Fund (IMF) and European Central Bank also participated in the conference.

Collectively G20 represents 85% of the global economy.

India, Chidambaram said, has expressed concern over impact of monetary easing by the US Federal Reserve on the developing countries and underlined the need to expedite the IMF quota reforms which seeks to give greater say to emerging economies in the multilateral lending body.

"...when countries withdraw from quantitative easing they should keep in mind the spillovers on the developing countries," he said.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...