'Markets will be hit if Raghuram Rajan not given 2nd term'

June 06, 2016 12:50

Mohamed El-Erian , Allianz SE's chief economic adviser, said financial markets would 'understandably' not respond well if Raghuram Rajan is not given a second term as Reserve Bank of India ( RBI ) governor.

"He is rightly deemed as one of the very best central bank governors in the world," El-Erian said in an email interview. "Indeed, few can match his expertise, experience and knowledge."

One of the most influential voices in the global financial markets, El-Erian was once deemed to be the successor of 'Bond King' Bill Gross at Pacific Investment Management Co (Pimco), the world's largest bond fund manager. Both left Pimco in 2014 reportedly after a falling out.Rajan, whose three-year term is set to end in September, has been subjected to fierce attacks by a ruling party lawmaker and his comments criticised by a minister. Read more

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