On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
62° Feels Like: 62°
Wind: NW 6 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 55°

Tomorrow

PM Thunderstorms 77°

Wed Night

Scattered Thunderstorms 54°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

India does not need an IMF credit line: World Bank economist

India's Kaushik Basu speaks during the book release 'The New Oxford Companion to Economics in India' edited by Basu and Annemie Maertens, in
India's Kaushik Basu speaks during the book release 'The New Oxford Companion to Economics in India' edited by Basu and Annemie Maertens, in

(Reuters) - India does not need to seek a line of credit from the International Monetary Fund (IMF) to help fix the economy, World Bank chief economist Kaushik Basu said in New Delhi on Monday, on the same day the rupee fell to another record low.

"I don't think that we are in a situation where there is any need for that," Basu told reporters after giving a lecture in the Indian capital, when asked whether India should ask the IMF for money. "India has enough foreign exchange reserves, so the question of having to turn to the IMF is not there."

The rupee fell despite a series of measures unveiled last week to try to stall its decline. The rupee has been the worst performer in Asia since late May, when the U.S. Federal Reserve first signaled that it may begin tapering its monetary stimulus this year, sparking an exodus of cheap money from emerging markets worldwide.

(Reporting By Rajesh Kumar Singh; editing by Matthias Williams)

Comments