Photographer: Divyakant Solanki/EPA

India, Singapore Central Bankers Call for Global Safety Net

  • Rajan sees role for IMF as backstop of central banks’ swaps
  • IMF’s Furusawa says talks about liquidity facility ‘not easy’

Central bank chiefs from India and Singapore called for a strong safety net for countries to cope with financial crises, echoing a push by the International Monetary Fund that said available instruments are costly and fragmented.

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