Chidambaram and Reserve Bank Governor Mr Rajan to visit Australia G20 finance Ministers’ Meet

Raghuam rajan

 

Reserve Bank of India Governor Raghuram Rajan

Finance ministers from the G20 countries will gather in  Australia this weekend of February  22-23 2014, a crucial step on the way to November’s Leaders meeting, which will be the most important gathering of world leaders  Australia  has ever hosted. The G20 leaders’ meeting in Brisbane in November 2014 will have likely guests such as Barack Obama, David Cameron and Angela Merkel.

Treasurer Joe Hockey has said the message of the Abbott government both domestically and internationally is the same: that governments have run out of money and “it is now the turn of the private sector to generate economic growth and create new jobs”, something governments must facilitate.

chidambaram

India’s Finance Minister Chidambaram

India’s Finance Minister Chidambaram will attend the G20 Finance Ministers Meet and will be accompanied by ministry officials, including Economic Affairs Secretary Arvind Mayaram. Reserve Bank of India Governor Raghuram Rajan will also attend the meeting.
The FM Meet will highlight the huge potential of  India’s Infrastructure Sector to investors.

Mr Rajan, a former chief economist at the International Monetary Fund, has said in a Bloomberg India TV interview,  “International monetary co-operation has broken down,”  hitting out at the US and other industrialised countries for running selfish economic policies as their recovery leads to  turmoil in emerging markets.

Speaking a day after the US Federal Reserve  moved to withdraw more of the monetary stimulus  which fuelled strong inflows into developing countries, Raghuram Rajan said emerging markets had helped pull the world out of the 2008 financial crisis and should not be ignored now.

The Treasurer Joe Hockey recently at the Lowy Institute talked about the Importance of Reform to the IMF.

In 1999 FM Chidambaram was in  Melbourne  at the G20 Finance Ministers Meeting in which Treasurer Peter Costello was the driving force.

In 1999 FM Chidambaram was in  Melbourne  at the G20 Finance Ministers Meeting in which Treasurer Peter Costello was the driving force.

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