India for IMF role in solving Europe's debt issues

Posted on    31 October 2011



India says the International Monetary Fund should play a bigger role in tackling the eurozone's escalating debt troubles. India's Planning Commission deputy chairman Montek Singh Ahluwalia says India has received no specific requests to contribute more generously for Europe.


However, he said India will certainly support the IMF providing resource support to European countries. Ahluwalia spoke to reporters Saturday ahead of the G20 summit to be held in France.


Until now, the IMF has funded about a third of the bailouts of Greece, Ireland and Portugal.


The finance chiefs of the world's leading economies earlier asked the IMF to propose ways it could help stop countries under severe market pressure from toppling into a full-blown crisis.


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