Bank of Mauritius welcomes Dr Duvvuri Subbarao, Governor, Reserve Bank of India
COMMUNIQUÉ BANK OF MAURITIUS WELCOMES DR DUVVURI SUBBARAO, GOVERNOR, RESERVE BANK OF INDIA
The Bank of Mauritius (the Bank) welcomed today Dr Duvvuri Subbarao, Governor, Reserve Bank of India (RBI).
Governor Subbarao and Mr Rundheersing Bheenick, Governor, Bank of
Mauritius discussed matters of bilateral interest and reviewed the
excellent state of relations between the Bank and the RBI.
Governor Subbarao also delivered a talk at the Bank of Mauritius
Tower on the theme "Macroeconomic Challenges - A Central Bank's
Perspective", in front of a select audience from the financial sector
and the business community. The talk was followed by a Q&A session.
In his introductory remarks, Governor Bheenick said that the Bank
and RBI have a close relationship which goes back to the foundation of
the Bank about 45 years ago and has continued down the years.
In his exposé, Governor Subbarao stated that the macroeconomic
challenges that India faces today are high stubborn inflation, large
current account deficit and low investment. He focused on two main
issues namely managing growth-inflation dynamics and mitigating the
vulnerabilities of the external sector. He underscored that the factors
affecting India were not only global but domestic as well. While talking
about these concerns, he drew a parallel with the challenges faced by
the Mauritian economy.
Governor Subbarao's observations prompted interesting questions
from the audience that provided him with the opportunity to clarify his
views on policy options available to a central bank.
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