RBI’s Subbarao encourages more ambitious global governance

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Duvvuri Subbarao, the Reserve Bank of India governor, challenged the G-20 to "nudge countries' policies in mutually agreed directions", and hold sovereigns accountable for the commitments they make, in a speech in Mumbai on November 20.

But he accepted seeking "firm, forward looking" commitments or criticisms of countries' policy frameworks would be divisive at this time, and a more ambitious global governance will require time to develop.

Speaking about the governance of the IMF, Subbarao said

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