Tehran, May 17: India today sought comprehensive reform of international financial institutions to enable enhanced capital flows and infrastructure investment in developing markets, which it said will strengthen recovery from the worst global economic crisis since 1945.
“We need to continue our efforts for a comprehensive reform of the international financial institutions to make them more inclusive,” External Affairs Minister S M Krishna said addressing the 14th G-15 Summit here.
The G-15, a group of 17 developing countries from Asia, Africa, and Latin America, was set up to foster cooperation and provide input for other international groups.
India’s call for comprehensive financial reforms comes within a month of the World Bank member-nations approving greater say to developing nations in how the multilateral lending agency is run.
India’s voting rights in the Bank increased to 2.91 per cent from 2.
–Agencies