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" "The explosion of financial innovation unaccompanied by credible systemic regulation has made the financial system vulnerable. The resulting crisis of confidence threatens global prosperity in the increasingly interdependent world in which we live. There is, therefore, a need for a new international initiative to bring structural reform in the world's financial system with more effective regulation and stronger systems of multilateral consultations and surveillance. This must be designed in as inclusive a manner as possible.
Manmohan Singh (Punjabi: ਮਨਮੋਹਨ ਸਿੰਘ; 26 September 1932 – 26 December 2024) was the 13th Prime Minister of India. Singh, a member of the Indian National Congress party and an economist, became the first Sikh Prime Minister of India on 22 May 2004.
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If our commitment to remain an open society is one of the pillars of our nationhood, the other is our commitment to remain an open economy. An economy that guarantees the freedom of enterprise, respects individual creativity, and at the same time mobilizes public investment for social infrastructure and the development of human capabilities. Indeed, it would be no exaggeration to suggest that these are the principles to which all countries will increasingly want to adhere. In relating to the world, we must never lose sight of this vital aspect of our Nationhood.
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