New Delhi [India]Feb 9 (ANI): Union Finance Minister Nirmala Sitharaman and International Monetary Fund Managing Director Kristalina Georgieva on Thursday expressed solidarity with the people affected by the devastating earthquakes in Turkey and Syria.
Finance Minister Sitharaman also conveyed India’s immediate support extended by Prime Minister Narendra Modi through deployment of National Disaster Response Force (NDRF) and medical teams under Operation Dost. The official Twitter handle of the Finance Minister posted about the virtual meeting with the IMF MD in a series of tweets on Thursday.
In a virtual meeting on Thursday, Finance Minister Sitharaman and IMF MD Georgieva were discussing the upcoming G20 Finance Ministers and Central Bank Governors (FMCBG) meeting to be held in Bengaluru later this month.
During the meeting, Georgieva congratulated India for its strong economic performance in challenging global times as well as its role at the forefront of digitization of the economy, especially in the area of digital payments.
Sitharaman also thanked the IMF for the support it was providing to the G20 Indian Presidency on various work streams under the G20 Finance Track.
During the virtual meeting, the IMF MD also appreciated India’s contribution of USD 50 million for the South Asia Regional Training and Technical Assistance Center (SARTTAC), Delhi, which is a partnership between the IMF and India. This will further strengthen the role of India and the IMF in capacity building in the South Asia region, the Finance Minister posted on the social media site.
Sitharaman also discussed the role of the IMF and other relevant international organizations in developing a globally coordinated approach on the regulation of crypto assets.
Meanwhile, Sitharaman told IMF MD Georgieva that India will continue to play its leadership role during the G20 chairmanship to strengthen multilateralism and global governance for a peaceful, sustainable and prosperous world for all.
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.
Discussing energy and food security, Sitharaman stressed on the need to ensure food and energy security for all and the IMF for the Indian presidency as a detailed technical analysis to develop evidence-based policy guidance on the issue. sought support from
FM Sitharaman informed IMF MD Georgieva that debt discussions will be at the forefront of G20 finance track discussions and India will continue to support ongoing efforts for orderly and timely implementation of the Common Framework. According to the IMF website, the Common Framework aims to deal with insolvency and long-term liquidity problems, along with the implementation of the IMF-backed reform programme.
Along with addressing debt vulnerabilities, Sitharaman and Georgieva also discussed other key deliverables such as timely completion of the 16th GRQ to strengthen the global financial safety net. According to the IMF, the 16th General Review (GRQ) of quotas, which is currently underway and expected to be completed by December 15, 2023, provides an opportunity to assess the overall adequacy of quotas as well as the adequacy of their distribution. Is. among IMF member countries. (ANI)
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