An early decision on these modalities would enable a quicker mobilization of the targeted resources from a wider group of members. On our part, India is prepared to take on its share of responsibility to augment the Fund’s resources. We would be able to commit on the extent of participation once the modalities are evolved in keeping the principles enunciated.
We call for an early and front-loaded allocation of SDRs worth $ billion which would amount to about three-quarters of the present quota size of the Fund. This would provide developing countries with additional liquidity of about $ billion, of which $ 19 billion will go to low income countries.