India has turned to an influential former chief economist for the International Monetary Fund to head its central bank as the country battles escalating economic woes, described by some analysts as the most serious since the early 1990s.
Raghuram Rajan, who issued prominent warnings of trouble ahead of the 2008 financial crisis while at the IMF, takes over the helm of the Reserve Bank of India on September 4.
His immediate task will be help to stabilise the tumbling rupee, bolster slowing growth in Asia’s third biggest economy and stem an outflow of foreign investment.
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