India to strongly support IMF deal with Euro crisis: Montek Singh Ahluwalia
India said it will "strongly" support the efforts of the International Monetary Fund to help Eurozone tide over the sovereign debt crisis
By PTI | Updated:
CANNES: India today said it will "strongly" support the efforts of the International Monetary Fund (IMF) to help Eurozone tide over the sovereign debt crisis, even as G-20 leaders began their two-day summit here to work out ways to deal with the global economic problems.
"... after Eurozone countries have done what is necessary, they would need further international support. In that case IMF is the right way of providing support and we would strongly support the IMF in doing so," Planning Commission Deputy Chairman Montek Singh Ahluwalia told private news channel NDTV-PROFIT in an interview.
However, he added the primary responsibility for handling the crisis would rest with Eurozone nations.
Although the G-20 is not handling the crisis directly, Ahluwalia said, "we need to resolve this as soon possible" to prevent contagion spreading to other Eurozone nations.
Prime Minister Manmohan Singh, he said, had also emphasised that Greece package should be put in place as quickly as possible.
"We have said that the IMF should keep a watch on the developments in Eurozone and be ready to help if necessary", he added.
Finance Minister Pranab Mukherjee had said yesterday, "Our assessment of the situation is let them (Eurozone) make a credible assessment of solvency issue, try to sort out those problems and then supplementary financing could be considered. Let us see what the leaders decide."
As regards the G-20 communique, which will be issued at the end of the summit, Ahluwalia hoped, "it will reflect a sort of agreed position of the G-20. The idea is that markets need to know whether governments are following policies which collectively are consistent with robust growth or not".
"... after Eurozone countries have done what is necessary, they would need further international support. In that case IMF is the right way of providing support and we would strongly support the IMF in doing so," Planning Commission Deputy Chairman Montek Singh Ahluwalia told private news channel NDTV-PROFIT in an interview.
However, he added the primary responsibility for handling the crisis would rest with Eurozone nations.
Although the G-20 is not handling the crisis directly, Ahluwalia said, "we need to resolve this as soon possible" to prevent contagion spreading to other Eurozone nations.
Prime Minister Manmohan Singh, he said, had also emphasised that Greece package should be put in place as quickly as possible.
"We have said that the IMF should keep a watch on the developments in Eurozone and be ready to help if necessary", he added.
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Finance Minister Pranab Mukherjee had said yesterday, "Our assessment of the situation is let them (Eurozone) make a credible assessment of solvency issue, try to sort out those problems and then supplementary financing could be considered. Let us see what the leaders decide."
As regards the G-20 communique, which will be issued at the end of the summit, Ahluwalia hoped, "it will reflect a sort of agreed position of the G-20. The idea is that markets need to know whether governments are following policies which collectively are consistent with robust growth or not".
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