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PM meets World Bank president, American CEOs

September 25, 2008 18:25 IST

Giving an economic content to his visit to the US in the midst of high-profile diplomatic engagements, Prime Minister Manmohan Singh met World Bank President Robert Zoellick and top American CEOs in the backdrop of the financial meltdown that has kept the Bush Administration on its toes.

Singh is understood to have discussed with both Zoellick and the CEOs at separate meetings on Wednesday the fallout of the meltdown on developing economies. The meetings took place at the New York Palace hotel where Singh is staying.

The prime minister has already called for strengthening multilateral surveillance and institutions to ward off situations like the current financial meltdown that has gripped the country.

According to Deputy Chairman of Planning Commission M S Ahluwalia, the direct impact of the meltdown on the Indian economy will be minimal.

It is understood that Zoellick sought the meeting with the World Bank economist-turned politician for discussions on a range of issues.

The prime minister said on Tuesday that the financial meltdown only goes to prove the vital importance of good governance.

Among the CEOs who met the Prime Minister were William Harrison of JP Morgan Chase; Paul Hanrahan of AES; Stephen Schwarzman of Blackstone Group; Shantanu Narayan of Adobe; Andrew Liveris of Dow Chemical; John Thain of Merrill Lynch; Kenneth Chenault of American Express; and Jeffery Bewkes of Time Warner.

Ford was represented by a top official at the meeting.

G Sudhakar Nair in New York
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