India Opposes Allocation of SDR
Recently theFinance Minister of India said that the country could not support a general allocation of new Special Drawing Rights by the International Monetary Fund because it might not be effective in easing coronavirus-driven financial pressures.
Cause of Concern
- India is concerned that such a major liquidity injection could produce potentially costly side-effects if countries used the funds for “extraneous” purposes.
- India opposes a new SDR allocation, which would provide all 189 members with new foreign exchange reserves with no conditions.
- In the current context of illiquidity and flights to cash, the efficacy of an SDR allocation is not certain, additionally most ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
World Watch
- 1 India Joins US-Led Minerals Security Finance Network
- 2 Pacific Islands Forum Meeting Highlights Growing Influence
- 3 Turkey Seeks Membership in BRICS
- 4 China's Commitment to Africa at FOCAC 2024
- 5 India Seeks Renegotiation of Indus Waters Treaty
- 6 India and Brunei Elevate Ties to “Enhanced Partnership”
- 7 India-UAE Nuclear Cooperation Agreement
- 8 Indian PM’s US Visit Solidifies India's Global Role
- 9 UN Approves Draft of Global Cybercrime Treaty
- 10 UN Launches Multidimensional Vulnerability Index
