Recession: US expects India to take lead

Written by: Super Admin
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Washington, Mar 31: The US is of the view that India should play a greater role along with China and other major economies in tackling the current global slump. Timothy Geithner, the US Treasury Secretary said that his nation also supports bigger responsibilities for India in the international financial institution.

Speaking on the eve of US President Barack Obama's departure for London to participate in the G20 Summit on Apr 2, Geithner said, that India itself has to decide on what role it should be playing.

Meanwhile, speaking about the IMF quotas, he said, "We are committed to accelerate the quota review, and to lay out a clear roadmap to an agreement on set of that governance change; changes in voting rights and shares and responsibilities that come with change of that review," he said in reply to a question related to India.

Geithner also argued that each of the G20 countries need to look carefully the challenges they face and make sure that "we are doing what is necessary, in our own country to help recovery established. And the power of each of our individual actions would be greater in moving together."

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