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 instruments → Extended Fund Facility EFF instruments / Credit Perow Agreement CPA → ensure liquidity in times of crisis. eg, India in 1991 crisis (2) Policy and Administrate support → Article 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.

— RISHUL NEEMA · AIR 267

216 words1 paragraphs

Conclusion

IMF Reforms all the need of the hour to ensure Global financial stability.

13 words

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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

Paragraphs

formal

Tone

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