India's Finance Minister Palaniappan Chidambaram said Saturday that the International Monetary Fund should strengthen its surveillance of the global economy, given the continued uncertainty.
"We need to recognize that in addition to the known risks at present, there are bound to be surprises that will arise in the months and years to come," he said while addressing the twenty-seventh meeting of the International Monetary and Financial Committee (IMFC).
The Fund should have a program of work that focuses on the identification of risks, as they become more salient and plans of contingent action to cope with them, Chidambaram told the meeting.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.