India, IMF sign pact to set up regional training centre

India and the International Monetary Fund (IMF) on Saturday decided to set up a regional training and technical assistance centre in New Delhi with a view to enhancing capacity development and training officials in dealing with macroeconomic issues.

A memorandum of understanding to set up the centre was signed by Finance Minister Arun Jaitley and IMF Managing Director Christine Lagarde in the presence of Prime Minister Narendra Modi.

"This will be the first centre that fully integrates training and technical assistance and is a model for our future capacity development work," said Lagarde.