Space For Rent

Space For Rent
DHAKA Monday 24 February 2014, 12 Falgun 1420, BS 23 Rabius Sani 1435 HIJRI


India satisfied with G20 outcome
Publish Date : 2014-02-24,  Publish Time : 00:00,  View Count : 2
SYDNEY, Feb 23: India is satisfied with the outcome of G20, finance minister P Chidambaram said on Sunday.
"India's concerns with regard to tapering, IMF quota reforms have been addressed in the G20 communique," Chidambaram said.
"The communique has been drawn by the deputies sitting together and I think our concerns have been fully reflected in the communique," he said.
The finance ministers and central bank governors of G20 nations on Sunday decided to work towards lifting their collective GDP by more than two per cent over the next five years and exhorted the United States to go ahead with the IMF quota reforms.
"We will develop ambitious but realistic policies with the aim to lift our collective GDP by more than two per cent above the trajectory implied by current policies over the coming five years. This is over $2 trillion more in real terms and will lead to significant additional jobs," said a communique released after the two-day G20 meet.
The group of 20 rich and developing nations said they "deeply regret" the stalling of IMF quota reforms with the United States yet to ratify them.
The IMF quota reforms, which seeks to increase the voting share of emerging economies including India, had hit a roadblock with the US Congress refusing to increase the American contribution to the multilateral body.
"We deeply regret that the IMF quota and governance reforms agreed to in 2010 have not yet become effective and that the 15th General Review of quota was not completed by 2014," the communique said.     - PTI





Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka. Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000. Phone :9586651-58. Fax: 9586659-60, Advertisemnet: 9513663, E-mail: [email protected], [email protected], [email protected]