PM leaves for G-20 summit

Before leaving for the G-20 summit in Russia, Prime Minister Manmohan Singh Wednesday said he would stress “the need for an orderly exit from unconventional monetary policies” of the developed world.

Before leaving for the G-20 summit in Russia, Prime Minister Manmohan Singh Wednesday said he would stress “the need for an orderly exit from unconventional monetary policies” of the developed world.

The US, seeing signs of recovery, is due to begin a tapering off of its so-called QE3 (third round of quantitative easing) that involved pushing $85 billion in cash every month to encourage easy loans and growth.

India can rely on the support of fellow Brics nations Brazil, Russia, China and South Africa in asking developed economies, led by the US, not to end their easy money policies in a hurry as they have caused sudden havoc in the currency markets of emerging markets.