RBI's Rajan says India does not face financing difficulties
2013-10-11 11:21:23
Reserve Bank of India Governor Raghuram Rajan said Thursday that the country does not face any kind of internal or external financing troubles.
"We are by no means, no means, anywhere nearing having external financing difficulties or internal financing difficulties," he said at a panel discussion on the sidelines of the IMF-World Bank Spring Meetings in Washington.
"Government credit is good, solid. There is absolutely no difficulty to the government in borrowing," he was quoted as saying. India's external debt is 22 percent of GDP, and its reserves are 15 percent and therefore the country does not have an external debt problem, Rajan said.
Though he admitted that India needs some reforms to address its economic woes, the policymaker felt that most of the issues are a problem of perception.