Critically examine the role of International Monetary Fund (IMF) in addressing debt distress in the Global South. How can India use its post-G20 presidency momentum to push IMF reforms?

IMF is Bretton-Woods institution provides loans for countries facing balance of payment crisis. Example: India received bailout in 1991 BoP crisis. Role of IMF in address debt distress: (1) Provide Different facilities for different needs → immediate relief based SDR quotes. (2) Concessional funding for poverty alleviation programme. (3) A Technical guidance to ensure macroeconomic stability. Issues with debt-distress of globalsouth: (1) "Conditionality" imposed on countries leads to austerity & poverty. (2) Lack of reform in quota & representation to global south. (3) Clandestine functioning instruction of west USA. (4) Questionable funding → $ 1 bn for Pakistan after Operation Enduring.

Issues with debt-distress of global south continued: Issues with Debt-distress of Global south: (1) "Conditionality" imposed on countries leads to austerity & poverty. (2) Lack of reform in quota & representation to global south. (3) Clandestine functioning instruction of west USA. (4) Questionable funding → $ 1 bn for Pakistan after Operation Enduring. Push IMF Reform: (1) Build alternativity → New Development Bank of BRICS. (2) Criticise through voice minded countries eg Voice of Global South Summit. (3) Greater funding to IMF by India. (4) Leverage relation b/w west & East (China/Russia) to build Concern. Thus reformed IMF is need of our as FM Modi-led '21st century software cart' run on 21st century IT power.

— NEERAJ · AIR 180