Prime Minister Narendra Modi, speaking at the G20 Summit, while talking about the global economy brought up the matter of black money and what role he expected other countries to play. Here are the top 5 things he talked about while bringing up the black money issue:
1. PM Modi sought immediate implementation of IMF quota reforms to give the emerging markets such as India a greater say.
2. PM called for steps to strengthen the rule-based global trading system while ensuring that new trading blocks do not divide global trade regime.
3. PM Modi called for an early operation of the new multilateral bank that BRICS nations have created to rival the World Bank.
4. PM Modi said, “The G20 should focus on implementation of the decisions to restructure global economic institutions and greater collaboration between multilateral and regional financial institutions”.
5. PM further said the grouping of world’s top 20 economies should coordinate closely “on preventing corruption and cooperation on freezing of unaccounted money hoarded abroad and its repatriation.”