Monday, September 18, 2006

India unhappy with World Bank

India on Monday lashed out at the World Bank for over-emphasis on issues of governance and corruption, which it said cannot replace the core of the development agenda, crucial for the uplift of millions of poor and downtrodden in developing and emerging economies.

India's Finance Minister P.Chidambaram said that since the scale of the development challenge facing the world was "daunting", the Bank as an institution needed, more than ever before, to focus on where it can actually make a difference.

Mr. Chidambaram is a highly respected financial guru and he knows what he is talking. Fighting corruption in developing countries is no less a daunting task. India has to take the bull by the horns and fight to eradicate corruption.

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