Operational independence of central banks important: IMF director
The International Monetary Fund (IMF) yesterday said that "operational independence" of central banks like the Reserve Bank of India (RBI) was important for carrying out their responsibilities. Gerry Rice, IMF Director, Communication, said this in response to a question on the recent developments at the RBI. He, however, added that his views were in the context of "international experiences." Read more.
RBI an important counterpart and partner for IMF, says Rice
The RBI played a vital role in ensuring economic, financial stability, and was an important counterpart and partner for the IMF, Rice said, adding that the IMF had "taken note of" Urjit Patel as RBI's governor and appointment of Shaktikanta Das as his replacement.
We look forward to working closely with Governor Das: Rice
"We believe Patel was instrumental in formulating the Reserve Bank of India's inflation-targeting framework as a deputy governor and in successfully implementing it as governor," the IMF Director said. "In wishing Governor Patel all the best in the future, we also look forward to working closely with Governor Das and wish him well in his new incarnation," Rice added.