Union Finance Minister Nirmala Sitharaman. , Photo Credit: PTI
Finance Minister Nirmala Sitharaman held discussions with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on February 9 and urged the multilateral funding agency to develop a globally coordinated approach to the regulation of crypto assets.
The Finance Minister held a virtual interaction with the MD of IMF to discuss the upcoming G20 Finance Ministers and Central Bank Governors (FMCBG) meeting to be held in Bengaluru later this month.
Ms Sitharaman thanked the IMF for the support it was providing G20 Indian Presidency on various work streams under the G20 FinanceTrack.
In a series of tweets, the finance ministry said Ms Georgieva congratulated India for its strong economic performance in challenging global times and its role at the forefront of digitization of the economy, especially in the area of digital payments.
The two leaders expressed solidarity with those affected by the devastation in Turkey and Syria, the ministry said in a tweet. According to another tweet, “FM conveyed India’s immediate support extended by PM Shri @narendramodi through deployment of NDRF @NDRFHQ & medical teams under #OperationDost.”
IMF MD appreciated India’s contribution of $50 million to SRTTAC, Delhi, a partnership between the IMF and India. “It will further strengthen the role of India and the IMF in capacity building in the South Asia region,” he said.
Another tweet said, “Finance Minister Smt @nsitharaman told Ms @KGeorgieva that India will continue its leadership role during her presidency to strengthen #Multilateralism & #GlobalGovernance for a peaceful, sustainable & prosperous world for all.” Will keep on doing.”
During the discussion via video-conference, the two leaders recognized that the voices of the most vulnerable and underrepresented should be heard through the leadership of the G20 countries.
Ms. Sitharaman stressed the need to ensure food and energy security for all and asked the IMF to support the Indian President in the form of a detailed technical analysis to develop evidence-based policy guidance on the issue.
He also told Ms. Georgieva that debt issues would remain at the forefront of G20 FinanceTrack discussions, and that India would continue to support ongoing efforts for an orderly and timely implementation of the Common Framework.
In addition to addressing debt vulnerabilities, the two leaders also discussed other key deliverables such as timely completion of the 16th General Review of Quotas (GRQ) to strengthen the global financial safety net, it said in another tweet.