‘IMF, World Bank should consult developing economies’ not RBI’s official view

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Published: July 22, 2019 3:40:41 PM

The view that International Monetary Fund (IMF) and World Bank should consider the realities of the developing economies, instead of imposing their decisions on member states, is not an official position of the central bank.

IMF, World Bank, developing economies, RBI, International Monetary Fund, economy news, Reserve Bank of IndiaRBI has not articulated any such position on the issue, officials said. (Reuters)

Clarifying that the RBI has not articulated any view on IMF and World Bank’s decision-making process on developing economies, central bank officials Monday said that the comments made by RBI executive director Rabi Mishra here were made in his personal capacity.

Mishra, at the conclusion of a three-day Kalinga Literary Festival on Sunday, said “multilateral institutions such as the IMF and the World Bank should consult developing economies before taking decisions”. “This is not the official position of the Reserve Bank of India (RBI),” an official said.

The view that International Monetary Fund (IMF) and World Bank should consider the realities of the developing economies, instead of imposing their decisions on member states, is not an official position of the central bank. RBI has not articulated any such position on the issue, officials said.

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