Hua Hin, Thailand:
With economic recovery setting in, the big question is when should economies start withdrawing stimulus packages. Prime Minister Manmohan Singh says the time may not be right as yet to exit the stimulus packages, as it's too early to say if we are completely out of trouble.
The PM says it's the Asian nations that are showing the world the road to economic revival.
"We're satisfied with both monetary and fiscal policies, in line with our requirements, but it's too early to say if we are completely out of trouble," he said at a press briefing in the Hua Hin beach town of Thailand after attending the Indo-ASEAN Summit.
Manmohan emphasised the need to strike a balance between the adoption of stimulus packages and their withdrawal, modification or removal. At the summit, participating nations decided that there should be a detailed investigation into such issues. Multilateral fora like the Indo-ASEAN Summit can deal with such subjects in general terms.
Other areas in which the countries agreed to cooperate are food and energy security, natural disasters, new and emerging infectious diseases and climate change.
The ASEAN leaders suggested that India, as a member of the G-20, could play an important role in coordinating efforts between developed and developing economies to lessen the negative impact of the current global economic and financial crisis.
India could also work with ASEAN to complement the global efforts in the reform of the international financial architecture and speed up the early recovery of the global economy, the Summit concluded.
The PM says it's the Asian nations that are showing the world the road to economic revival.
"We're satisfied with both monetary and fiscal policies, in line with our requirements, but it's too early to say if we are completely out of trouble," he said at a press briefing in the Hua Hin beach town of Thailand after attending the Indo-ASEAN Summit.
Manmohan emphasised the need to strike a balance between the adoption of stimulus packages and their withdrawal, modification or removal. At the summit, participating nations decided that there should be a detailed investigation into such issues. Multilateral fora like the Indo-ASEAN Summit can deal with such subjects in general terms.
Other areas in which the countries agreed to cooperate are food and energy security, natural disasters, new and emerging infectious diseases and climate change.
The ASEAN leaders suggested that India, as a member of the G-20, could play an important role in coordinating efforts between developed and developing economies to lessen the negative impact of the current global economic and financial crisis.
India could also work with ASEAN to complement the global efforts in the reform of the international financial architecture and speed up the early recovery of the global economy, the Summit concluded.
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