By Lalit K. Jha, IANS,
United Nations : Former Reserve Bank of India (RBI) governor Y. Venugopal Reddy has been nominated by the UN General Assembly president Miguel d´Escoto to a UN task force to examine possible reform of the global financial system.
The 10-member Commission of Experts of the President of the General Assembly on Reforms of the International Monetary and Financial System is headed by US’s Joseph Stiglitz, the 2001 Nobel Prize winner in economics. He is also former senior vice president and chief economist of the World Bank.
The commission will suggest steps that the member states can take to secure a more stable global economic order, Enrique Yeves, spokesperson for the president of the General Assembly said Friday.
Key plenary meetings of the commission are scheduled for December, January and March.
Besides Reddy, the commission also includes Avinash Persaud – a person of Indian origin from Barbados. An eminent economist, Persaud is chairman of Intelligence Capital Limited, member of the council of the London School of Economics and Political Science (LSE), and founding director of the Global Association of Risk Professionals.
Other members of the commission are Zeti Akhtar Aziz, governor and chairman of the Central Bank of Malaysia; Chukwuma Soludo, governor of the Central Bank of Nigeria; and Yu Yongding, former member of Monetary Policy Committee of the People’s Bank of China.
Also on the panel are José Antonio Ocampo, former social affairs and finance minister of Colombia; Eisuke Sakakibara, former Japanese vice minister of finance and international affairs; and Jean-Paul Fitoussi, president of the Scientific Council of the Institute d’Etudes Politiques de Paris.
Jomo Kwame Sundaram, assistant UN secretary-general for economic development, represents the UN in this commission.