RBI’s Subbarao: IMF capital control proposals lack flexibility
Duvvuri Subbarao, the governor of the Reserve Bank of India, on Saturday said policymakers should have greater discretion to manage capital controls than under the IMF proposals on capital controls.
At the International Monetary and Financial Committee, in Washington DC, Subbarao said: "As regards multilateral strategies to managing capital flows, it is difficult to follow an approach that seeks to establish, standardise, prioritise or restrict the range of policy responses of the member
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