India says IMF liquidity boost may have costly side effects
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
January 28, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, JANUARY 28, 2023
India says IMF liquidity boost may have costly side effects

Global Economy

Reuters
17 April, 2020, 09:20 am
Last modified: 17 April, 2020, 09:26 am

Related News

  • India's rapid take-up of electric vehicles prompts rethink about long-term fuel needs
  • India's low coal stocks threaten electricity supply: Kemp
  • Two IAF aircraft crash near India's Madhya Pradesh's Morena
  • China differs with IMF on Sri Lanka debt moratorium
  • ‘Intransigence’: India notifies Pakistan of plans to amend Indus Waters Treaty

India says IMF liquidity boost may have costly side effects

Sitharaman joined US Treasury Secretary Steven Mnuchin in opposing a new SDR allocation

Reuters
17 April, 2020, 09:20 am
Last modified: 17 April, 2020, 09:26 am
India's Finance Minister Nirmala Sitharaman attends a joint news conference with US Treasury Secretary Steven Mnuchin in New Delhi, India, November 1, 2019. Photo: Reuters
India's Finance Minister Nirmala Sitharaman attends a joint news conference with US Treasury Secretary Steven Mnuchin in New Delhi, India, November 1, 2019. Photo: Reuters

India's finance minister said on Thursday 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.

Finance Minister Nirmala Sitharaman said in a statement to the IMF's steering committee that she also was concerned that such a major liquidity injection could produce potentially costly side-effects if countries used the funds for "extraneous" purposes.

Sitharaman joined US Treasury Secretary Steven Mnuchin in opposing 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, she said, adding that most countries rely on national reserves as a first line of defense.

"Consequently, extraneous demands for these reserves, not related to domestic monetary and financial stability, would be costly, and hence cannot be supported," she added.

Top News

India / IMF / liquidity

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Mumit M/TBS
    Biz leaders want crisis management, energy security for survival
  • TBS Sketch
    A proper price formula can help investors to plan big
  • Photo: Bloomberg
    Govt may defer gas price hike to April

MOST VIEWED

  • Photo: DW
    Euro zone lending growth tumbles as higher rates bite
  • A worker sits on a truck being loaded with coal at a railway coal yard on the outskirts of the western Indian city of Ahmedabad, Nov 25, 2013. REUTERS/Amit Dave
    India's low coal stocks threaten electricity supply: Kemp
  • File Photo: Reuters
    ICE to open London gas hub, creating route around EU price cap
  • FILE PHOTO: The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo
    Bankers on Adani $2.5 bln share sale consider delay, price cut after rout
  • Photo: Bloomberg
    India state insurer doubles down on Adani amid short seller row
  • India’s Adani Group launched a share offering for retail investors Friday as it mulled taking legal action against US-based short-selling firm Hindenburg Research over a report that led investors to dump its shares, with some stocks in the group falling up to 20% on Friday.(AP)
    LIC, SBI savings at risk amid Hindenburg vs Adani? Here's what banks said

Related News

  • India's rapid take-up of electric vehicles prompts rethink about long-term fuel needs
  • India's low coal stocks threaten electricity supply: Kemp
  • Two IAF aircraft crash near India's Madhya Pradesh's Morena
  • China differs with IMF on Sri Lanka debt moratorium
  • ‘Intransigence’: India notifies Pakistan of plans to amend Indus Waters Treaty

Features

Snipe in flight. Photo: Enam Ul Haque

Baikka Beel: 'A world where snipe work late'

7h | Panorama
Photo: Noor-A-Alam

Pet cafes: Where love for food and animals cohabit

9h | Food
Illustration: TBS

How MFS is turbocharging national economy

12h | Thoughts
Now is the time to focus on FDI composition

Now is the time to focus on FDI composition

14h | Panorama

More Videos from TBS

What does Shahrukh has in his 770 million dollar property?

What does Shahrukh has in his 770 million dollar property?

3h | TBS Entertainment
15 Reasons Your Entrepreneurial Career Can Fail

15 Reasons Your Entrepreneurial Career Can Fail

2h | TBS Career
Women are going to make history in match management in cricket

Women are going to make history in match management in cricket

1h | TBS SPORTS
Gold covered mummy discovered in Egypt

Gold covered mummy discovered in Egypt

7h | TBS World

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]