In a program organized by the RBI and the Ministry of Finance on the global economy under the G20, World Bank Managing Director and Chief Financial Officer Anshula Kant said that The World Bank is considering giving loans in local currency to countries like India. If this happens, the cost of debt will come down for countries like India.
The World Bank is considering giving loans in local currency to countries like India. This will reduce the cost of debt of the borrowing countries. This information was given by a senior World Bank official during the G-20 meeting. Anshula Kant, Managing Director and Chief Financial Officer of the World Bank, said that we are considering the issue of giving loans to countries like India in their local currency. How can this work be done so that these countries are benefited.
Anshula Kant participates in G20 submission Speaking at an event on global economy organized by RBI and Ministry of Finance for G-20 from India, Anshula Kant said that India would benefit greatly from taking loan from World Bank in local currency . AAA rating from the multilateral bank based in Washington DC. It was further said on his behalf that African countries where basic infrastructure is not present. The bank cannot adopt the strategy of lending in local currency there.
In the G20 program, Chief Economic Advisor in the Government of India V Ananth Nageswaran said that the inflation rate in the world is decreasing faster than expected. However, at the global level, inflation still remains a matter of concern. For this reason, there is a need to harmonize fiscal and monetary policies. Apart from this, in the G20 meeting, Ashima Goyal, an external member of the Monetary Policy Committee of RBI, said that it is very important to give importance to financial stability in the monitor policy.