In a move to further strengthen the economic operations of the Nation, the Union government led by PM Modi has joined hands with IMF to establish a Regional cooperation centre in the Country’s capital.
Flash points
- Christine Lagarde, Managing Director of the International Monetary Fund (IMF), and Finance Minister Arun Jaitley agreed today to establish a capacity development center in New Delhi
- SARTTAC-The South Asia Regional Training and Technical Assistance Center
- Located at: New Delhi
- Focus areas: Macroeconomic and fiscal management, monetary operations, financial sector regulation and supervision, and macroeconomic statistics
- This fully integrated centre will become a development and training assistance centre to meet the demands of South Asian nations India, Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka
- It will offer courses and seminars for policymakers and other government agencies
- The funding is to be provide by regional member countries and developing partners
- Financial contributors: The Australian Agency for International Development, the Republic of Korea and India
Points to note
- IMF- International Monetary Fund
- IMF MD– Christine lagarde
- IMF Headquarters-Washington D.C
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