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Sep 19, 2014
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India calls for EM currency swaps
India called for its fellow emerging economies to actively explore currency swap agreements among themselves as part of joint solutions to protect themselves from external shocks, at the meeting of G-20 deputies in Cairns, Australia, on Thursday.“Let us get the IMF to analyse whether swap lines are a solution (to protect from global shocks). If an analysis can be made on loss of GDP in the face of exogenous shocks, but with swaps in place and in the absence of swaps, it would be useful,” Finance secretary Arvind Mayaram said in his speech at the gathering of finance ministers and central bankers, according to a government statement.
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http://www.financialexpress.com
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