Nirmala Sitharaman - a blot on India.

[TrollBait]

https://in.reuters.com/article/us-imf-worldbank-india/india-says-imf-liquidity-boost-may-have-costly-side-effects-idINKBN21Z066?il=0

[TrollBait]

Sitharaman joined U.S. Treasury Secretary Steven Mnuchin in opposing a new SDR allocation, which would provide all 189 members with new foreign exchange reserves with no conditions.

“In the current context of illiquidity and flights to cash, the efficacy of an SDR allocation is not certain, she said, adding that most countries rely on national reserves as a first line of defense.

[TrollBait]

What a big pile of sh1t this disgusting woman is.

Just as I was ranting on another thread about India trying to ape the west about being 'conservative' with cash, during pandemic times.

[TrollBait]

over to fairweather meritocratic feminist (I dont what he is) @Meowmeow to defend his golden girl's 1000th foot in the mouth moment.

[Silverado]

3 minutes ago, TrollBait said:

Sitharaman joined U.S. Treasury Secretary Steven Mnuchin in opposing a new SDR allocation, which would provide all 189 members with new foreign exchange reserves with no conditions.

“In the current context of illiquidity and flights to cash, the efficacy of an SDR allocation is not certain, she said, adding that most countries rely on national reserves as a first line of defense.

No it would be a disaster and will be a habit that continues even after this

I usually don't like nirmala but appreciate this

At least she doesn't mess up with Indian currency devaluation

[TrollBait]

1 minute ago, Silverado said:

No it would be a disaster and will be a habit that continues even after this

I usually don't like nirmala but appreciate this

At least she doesn't mess up with Indian currency devaluation

ahaaan... so how much 'reserves' does India have to fight this crisis.

dude, this SDR is designed to prevent currency devaluation. what are you even saying?

Its clear that govt of India doesn' want to help India, and is actively trying to fcuk the world along with it. 

[Silverado]

1 minute ago, TrollBait said:

ahaaan... so how much 'reserves' does India have to fight this crisis.

dude, this SDR is designed to prevent currency devaluation. what are you even saying?

Its clear that govt of India doesn' want to help India, and is actively trying to fcuk the world along with it. 

I know what I am saying dude

If special drawing funds are allocated from IMF third world countries will agree for its terms but India shouldn't

In a long term in which currency IMF will dispose SDR liquidity????????

[Silverado]

Read this

Why should IMF meddle in currency affairs of countries like India

An IMF member country that requires actual foreign currency may sell its SDRs to another member country in exchange for the currency. To sell a part or all its SDRs, the country must find a willing party to buy them.^[10] The IMF acts as an intermediary in this voluntary exchange.

The IMF also has the authority under the designation mechanism to ask member countries with strong foreign exchange reserves to purchase XDRs from those with weak reserves.^[3] The maximum obligation any country has under this mechanism is currently equal to twice the amount of its SDR allocation.^[18] As of 2015, XDRs may only be exchanged for euros, Japanese yen, UK pounds, or US dollars.^[18] The IMF says exchanging XDRs can take "several days."^[70]

It is not, however, the IMF that pays out foreign currency in exchange for XDRs: the claim to currency that XDRs represent is not a claim on the IMF.^[3]

 

 

 

[TrollBait]

2 minutes ago, Silverado said:

I know what I am saying dude

If special drawing funds are allocated from IMF third world countries will agree for its terms but India shouldn't

In a long term in which currency IMF will dispose SDR liquidity????????

you have no idea what you are saying. SDRs are like securities that countries can use whichever they wish to. Even the interest paid on allocated SDR can be done with variety of currencies.

Why is India opposing SDR, they can simply refuse to hold them. what kind of psycho bullshit is this?

and how much does India have on reserves that it is rejecting liquidity from IMF?

[TrollBait]

2 minutes ago, Silverado said:

Read this

Why should IMF meddle in currency affairs of countries like India

An IMF member country that requires actual foreign currency may sell its SDRs to another member country in exchange for the currency. To sell a part or all its SDRs, the country must find a willing party to buy them.^[10] The IMF acts as an intermediary in this voluntary exchange.

The IMF also has the authority under the designation mechanism to ask member countries with strong foreign exchange reserves to purchase XDRs from those with weak reserves.^[3] The maximum obligation any country has under this mechanism is currently equal to twice the amount of its SDR allocation.^[18] As of 2015, XDRs may only be exchanged for euros, Japanese yen, UK pounds, or US dollars.^[18] The IMF says exchanging XDRs can take "several days."^[70]

It is not, however, the IMF that pays out foreign currency in exchange for XDRs: the claim to currency that XDRs represent is not a claim on the IMF.^[3]

lol. IMF has authority to ask countries to hold SDRs aa? where does that authority come from? God?

Inda can simply refuse to hold or take the money. why object?

[Silverado]

Just now, TrollBait said:

you have no idea what you are saying. SDRs are like securities that countries can use whichever they wish to. Even the interest paid on allocated SDR can be done with variety of currencies.

Why is India opposing SDR, they can simply refuse to hold them. what kind of psycho bullshit is this?

and how much does India have on reserves that it is rejecting liquidity from IMF?

Read this participatory notes also securities 

This paper focuses on the use of participatory notes (PNs) by foreign investors, as a conduit for portfolio flows into Indian equity markets for more than a decade. ... The paper suggests some reasons for the continuation of a buoyant market in PNs, and explains the possible impact from the recent regulatory changes.

 

Do you how much amount came into India through participatory notes from corrupt crooks and invested in stock markets

34% of NSE was owned by anonymous

So why we should allow securities by IMF which is controlled by few mindsuck intellectuals

[TrollBait]

SDR market functions purely on voluntary basis. There's no coercion involved from the IMF.

which site did you pick that article from? opindia or swarajyamag?

[Silverado]

2 minutes ago, TrollBait said:

lol. IMF has authority to ask countries to hold SDRs aa? where does that authority come from? God?

Inda can simply refuse to hold or take the money. why object?

That is what I am saying it is from wikipedia  without knowing terms and conditions why should we go for it

[Silverado]

Just now, TrollBait said:

SDR market functions purely on voluntary basis. There's no coercion involved from the IMF.

which site did you pick that article from? opindia or swarajyamag?

Wikipedia

[TrollBait]

Just now, Silverado said:

Read this participatory notes also securities 

This paper focuses on the use of participatory notes (PNs) by foreign investors, as a conduit for portfolio flows into Indian equity markets for more than a decade. ... The paper suggests some reasons for the continuation of a buoyant market in PNs, and explains the possible impact from the recent regulatory changes.

 

Do you how much amount came into India through participatory notes from corrupt crooks and invested in stock markets

34% of NSE was owned by anonymous

So why we should allow securities by IMF which is controlled by few mindsuck intellectuals

dude.. SDR can't be held by individuals or companies, but only by nations controlling a currency.