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Borrow? No. We can give money to IMF: PM

April 3, 2009

Prime Minister Manmohan Singh told the global community that India is willing to increase its contribution to the International Monetary Fund but does not intend to borrow any money from the multilateral lending agency.

"We do not visualise any need in the near future to go to the IMF . . . We can consider contribution to (the) IMF in proportion to our quota," he told reporters after the meeting of the G-20 leaders, who pledged to treble the resources of the IMF.

"As far as India is concerned . . . the question arises that we should contribute (to the IMF)," Singh said when asked whether India, like Mexico, is planning to withdraw funds from the new facility approved at the G-20 Summit.

PTI

Image: Britain's Prime Minister Gordon Brown (L) chats with his Indian counterpart Manmohan Singh upon his arrival at the G20 summit at the ExCel centre, in east London. Philippe Wojazer/Reuters

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