Washington DC [US]April 13 (ANI): Union Finance Minister Nirmala Sitharaman has made a strong call for timely debt restructuring as a solution to the global debt crisis, saying it is closely linked with addressing the global poverty challenge.
Sitharaman said this on the first day of the second G20 Finance Ministers and Central Bank Governors meeting held in Washington DC, which she co-chaired with Reserve Bank of India Governor Shaktikanta Das.
According to the tweet posted by the Finance Ministry, Sitharaman further said that the crisis adversely affects the most indebted countries as they also house the poorest people.
The first day of the 2nd Meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) under the Indian Presidency witnessed Session 1 on the Global Economy and International Financial Architecture organized within the framework of the Spring Meeting 2023 of the International Monetary Fund (IMF) and the World Bank (IMF) . West Bengal).
The FMCBG meeting also discussed key challenges to the global economic outlook and explored possible areas of policy coordination on global issues besides exchanging views on accelerating progress on the envisaged deliverables during the G20 India Presidency.
Sitharaman discussed progress on the agenda for strengthening Multilateral Development Banks (MDBs), including hearing from MDBs on the implementation of the recommendations of the Capital Adequacy Framework Review Panel and the way forward for the Expert Group on Strengthening MDBs set up by G20 India Seeks views of G20 members. According to the Presidency, Ministry of Finance.
Talking about the Global Sovereign Debt Roundtable during the meeting, FM Sitharaman emphasized India’s commitment as part of the Presidency of G20 India to all global efforts to address rising debt vulnerabilities and International Monetary Fund (IMF) IMF) and the World Bank (WB) welcomed the partnership. forward this agenda. (ANI)
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