Subbarao to attend IMF conference in April

Washington: Reserve Bank of India Governor Duvvuri Subbarao will share his perspective at an IMF conference here next month that will discuss policy pursued by various governments in the aftermath of global financial crisis.

The conference will bring together leading academics and policymakers from around the globe, as well as representatives from civil society, the private sector, and the media, according to the IMF.[caption id="attachment_679115" align="alignleft" width="380"]

RBI Governor D Subbarao. Reuters[/caption]

The conference on 'Rethinking Macro Policy II: First Steps and Early Lessons', will take place at the IMF's Headquarters in Washington, DC on 16-17 April.

Subbarao will chair the session on 17 April on Capital Account management that would focus on controls, reserves, international provision of liquidity.

The event will be hosted by George Akerlof (University of California, Berkeley and IMF), Olivier Blanchard (MIT, Economic Counselor and Director of Research at the IMF, David Romer (University of California, Berkeley), Joseph Stiglitz (Columbia University).

The conference comes against the backdrop of global economic slowdown and divergent monetary policies adopted by the developed and developing nations.

"They (policy makers) have also realised that they have potentially many more instruments at their disposal, from macro prudential tools to unconventional monetary policy. But how to map instruments to targets remains very much a work in progress," Blanchard said.

The three-day annual spring meeting of the IMF and the World Bank is scheduled to be held in Washington from 19 April onwards.

Finance Minister P Chidambaram and other senior Indian officials are expected to attend the event.

PTI