At a time when Indian markets are feeling the tremors of the overseas financial turbulence, the International Monetary Fund or IMF says that the global slowdown is now serious and its in this backdrop that the RBI governor feels that India needs to be prepared for a withdrawal of liquidity.
But it is the same emerging markets which have helped the world look like a better place at a time when developed markets have plunged into a crisis. So, while IMF may hold little relevance to how the Indian economy behaves now, the questions are clearly now targeted at institutions of developed markets. For the RBI Governor YV Reddy who has grappled with the massive inflows of capital, It is now turn to get into reverse gear as the world faces a slowdown.
But it is the same emerging markets which have helped the world look like a better place at a time when developed markets have plunged into a crisis. So, while IMF may hold little relevance to how the Indian economy behaves now, the questions are clearly now targeted at institutions of developed markets. For the RBI Governor YV Reddy who has grappled with the massive inflows of capital, It is now turn to get into reverse gear as the world faces a slowdown.
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