Chidambaram, Montek cancel visit to Washington

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New Delhi, Oct 10 (UNI)Finance Minister P Chidambaram and Planning Commission Deputy Chairman Montek Singh Ahluwalia today cancelled their visit to Washington where they were going to participate in the Annual World Bank-IMF Meetings.

According to official sources, the evolving economic situation resulting from the deepening global financial crisis has kept Mr Chidambaram and Dr Ahluwalia away from attending the meeting.

However, RBI Governor D Subbarao and other officials are already in Washington to attend the meetings. They include Secretary Department of Economic Affairs Ashok Chawla, Chief Economic Advisor Arvind Virmani, Joint Secretary Fund-Bank Divison in the Ministry of Finance Madusudan Prasad and RBI Deputy Governor Rakesh Mohan.

As hectic consultaions are on in the government, Mr Chidambarm and Dr Ahluwalia have decided to stay in Delhi to make themselves available to tide over any fallout arising from the global financial crisis.

Earlier in the day, Finance Secretary Arun Ramanathan had issued a statement of on behalf of Mr Chidambarm to indicate that the government and the regulators are maintaining a close vigil to tackle any economic and financial problems.

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