IMF ropes in former RBI guv Raghuram Rajan to COVID-19 related external advisory group

In a big development amid coronavirus outbreak in world, Managing Director of International Monetary Fund(IMF) Kristalina Georgieva on Friday named former RBI goverr Raghuram Rajan to her external visory group. 11 ors were also named to provide perspectives from around globe on key developments and policy issues, including responses to exceptional challenges world w faces due to COVID-19 pandemic.

Georgieva said that even before spre of COVID-19, IMF members have faced complex ecomic and financial disruptions.  She said that IMF needs top-tch input and expertise from widest range of sources. She n anunced people for her External visory Group. “Toward this end, I am proud that an exceptional and diverse group of eminent individuals with high-level policy, market and private sector experience has agreed to serve on my External visory Group. Today we h a dynamic discussion to gain ir insights, and to receive informal reactions to our ideas and approaches,” IMF Managing Director said.

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Rajan, 57, was Reserve Bank of India (RBI) goverr for three years until September 2016, is currently working as a professor at University of Chicago. Or members of group are Tharman Shanmugaratnam, Senior Minister of Singapore and Chairman of Monetary Authority of Singapore; Kristin Forbes, Professor, Massachusetts Institute of Techlogy; Kevin Rudd, former Prime Minister of Australia; Lord Mark Malloch Brown, former UN deputy secretary-general among ors.

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'India's Greatest Challenge in Recent Times,'

Earlier on April 6, Rajan suggested  government to call people with proven expertise and capabilities, including from opposition parties, to deal with 'perhaps greatest emergency being faced by country since Independence'. In his blog titled 'India's Greatest Challenge in Recent Times,' he cautioned that driving everything from Prime Minister's Office, with same overworked people, may t be of much help. 

"re is much to do. government should call on people with proven expertise and capabilities, of whom re are so many in India, to help it man its response. It may even want to reach across political aisle to draw in members of opposition who have h experience in previous times of great stress like global financial crisis. If, however, government insists on driving everything from Prime Minister's Office, with same overworked people, it will do too little, too late."

RE | Coronavirus LIVE Updates

Meanwhile, as per health ministry, India has conducted 1,44,910 tests on 130,792 suspected COVID-19 patients in 146 government and 67 private laboratories. country reported 1035 new cases in last 24 hours, sharpest ever increase in cases and 40 deaths, bringing number of confirmed cases to 7447. Over 642 patients have recovered and been discharged. Worlwide COVID-19 has claimed 102,734 lives and 1,699,632 cases have been reported, while 376,330 have been cured. 

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