Question Q.19GS2GS2
Critically examine the role of International Monetary Fund (IMF) in addressing debt distress in the Global South. How can India use its post-G20 presidency momentum to push IMF reforms?
Introduction
The recent law to Pakistan by the IMF dispute its Terror's history highlights the concerns of IMF in addressing effective & righteous debt distress.
24 words
Main Body
Role of IMF in addressing debt distress is vital South(1) Balance of Payments crisis instrumentsExtended Fund Facility EFF instruments / Credit Perow Agreement CPAensure liquidity in times of crisis. eg, India in 1991 crisis (2) Policy and Administrate supportArticle IV consultations with south countries.
2Expert guidance and economist opinion → for policy guidance with expertise congruent governments eg, South AFSG 2019 (3) Capacity building - SATC → South Asian Trade Centre in New Delhi → ensuring capacity of officials in financial management (5) Global monitoring and surveillance of economic parameters and Trade Matters WEO → wend economic outlook → global financial stability Report GFSR (6) Binding advice when countries are on loan appraisal to insurable stress reforms. eg o LPC Reforms 1991 - India -
o IMF Reforms post Indian G20 momentum(1) Unifying Global south voice to ensure Representation in IMF. (497-dominate 43%, IMF quota) o such for re-dollarisation as SDR is heavily dependent on USD. (3) Structural Reforms in IMF to handle funding to terrorist nations like Pakistan (4) Equitable voting share in IMF devised (India-set 2.5% vote share) (5) Developing funding mechanism to avoid lending status affecting sovereignty of nation. IMF Reforms all the need of the hour to ensure Global financial stability.
216 words1 paragraphs
Conclusion
IMF Reforms all the need of the hour to ensure Global financial stability.
13 words
Topper
RISHUL NEEMA
AIR 2672025
Subject & Paper
GS2GS2
Topic
Effect of Policies of Developed/Developing Countries and Indian Diaspora
International Relations
IMF and Global South
Writing Stats
253
Total words
1
Paragraphs
formal
Tone