Reserve Bank Governor Shaktikanta Das stated that there’s an pressing need to enhance green capital flows whereas pitching for the completion of the final review of quotas at the International Monetary Fund (IMF) on Friday.Â
Speaking at a seminar on the worldwide financial system organised by the Ministry of Finance and the Reserve Bank of India (RBI) right here, Das stated current expertise suggests international locations going through monetary difficulties go to different our bodies past the IMF as a result of of “perceived stigma” or lack of entry.
“A bigger and stronger IMF that is capable of managing the levels of country risks assumes crucial importance,” Das stated. He famous that because the IMF help to a rustic is linked to quota dimension of international locations, “the sixteenth general review of quotas and its attendant requirements, including governance reform needs to be completed expeditiously”.
Further, Das stated there’s a need to be conscious of the monetary implications of green transition. According to him, there’s additionally an pressing need to enhance green capital flows particularly to rising international locations. He additionally stated there’s a need to develop a world debt data-sharing platform.
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