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Emerging markets facing adverse capital outflows, says PM

CNN-IBN
Sep 04, 2013 at 10:38am IST

New Delhi: Reflecting on the present economic scenario, the Prime Minister on Wednesday before leaving for the G-20 summit said that the emerging markets are facing adverse capital outflows. "There are signs of growth in the industrialised world even as emerging economies face slowdown," he said.

He said that the government has undertaken several reform measures. He also said that the several steps have been taken by the government to strengthen the macro economy and stabilise the rupee.

The Prime Minister called for an orderly exit from the unconventional monetary policies pursued by the developed world to avoid damaging growth prospects of developing world.

As per the official spokespersons, one of the key points on the agenda of the G-20 meet will be the likelihood of India formally putting on record that the fund flow for developed world to emerging market economies like India should continue. Montek Singh Ahluwahlia, had earlier made it clear that there are no plans to approach the IMF for any sort of bailout or fund and the talks regarding the currency swaps may also not be taken forward.

The larger picture really will be in terms of getting a sense of what the 20 top leaders think about the international economic architecture and what they feel could be done to stabilize fund flows and improve growth which is the key concern for developed as well as developing countries like India.

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