Manmohan invokes NAM, questions West's control of IMF
With Western powers not willing to loosen their grip over key
global institutions like the International Monetary Fund (IMF),
Prime Minister Manmohan Singh Saturday invoked the Non-Aligned
Movement (NAM) and exhorted developing
New Delhi: As the race
for the top job at the International Monetary Fund (IMF)
intensifies, India will push hard for the reform of international
financial institutions at the two-day meeting of the foreign
ministers of the 46-nation Asia-Europe Meeting (ASEM) partnership
forum that began in Hungary Monday.
External Affairs Minister S.M. Krishna is representing India at
the 10th ASEM Foreign Ministers' Meeting in Godollo, Hungary.
The forum is expected to discuss views on issues relating to
economic governance and the reform of the international financial
Prime Minister Manmohan Singh has repeatedly questioned the
Western monopoly over top positions in international financial
institutions. Krishna is expected to renew India's call for the
reform of global financial institutions like the IMF and World
Bank, an official said here, even as French Finance Minister
Christine Lagarde will be in India Tuesday to garner its support
for her bid to lead the IMF.
The ASEM meeting will focus on a cluster of non-traditional
security threats ranging from terrorism, piracy, food and energy
security, climate change, disaster relief and management, illegal
migration and infectious diseases.
The restive situation in Libya and the pro-democracy change in
parts of the Arab world will also figure in the discussions. India
has opposed the NATO airstrikes against the North African country
and backed the African Union's position for a dialogue to end the
Krishna's participation at the meet "would underscore India's
commitment to play a constructive and proactive role in further
strengthening this vital inter-regional forum," the external
affairs ministry said here Monday.
Set up in 1996, ASEM, which represents over half of the global
population and accounts for more than half of the global GDP, held
its first summit meeting at Bangkok. A forum of 46 Asian and
European countries, ASEM also comprises two international
organisations, ASEAN and European Union, for expanding political
and security, economic and socio-cultural cooperation.
India has been participating in ASEM meetings since 2007. Manmohan
Singh participated in the 7th ASEM Summit, for the first time, at
Beijing in October 2008. The next summit will take place in
Vientiane (Lao PDR) in October 2012.