G20 FMs may discuss the need for global economic coordination

Discussions will also include talks on finding “permanent solutions” to the debt problems faced by low-income economies and developing a consensus on crypto-currencies.

“There are developmental concerns. There are indications that growth will slow down globally which will have an impact on global trade. We live in an interconnected world where all countries are affected by events in other countries and we need to find shared solutions. We expect that the Minister and the Governor will discuss a wide range of issues starting with the macroeconomics, as we all know that in recent months the difficult conditions at the macroeconomic level have improved somewhat, but the overall environment is very Made it tough.” Seth said.

“Inflation is very high. In such a situation, coordination between major economies is important. And we expect this to form a large part of the discussion.”

To address various macroeconomic uncertainties, V. Ananth Nageswaran, Chief Economic Adviser, said that nations should communicate with each other and there should be transparency in monetary policy as uncertainties lead to spillovers.

“While it is not possible to give a clear cut answer to the uncertainties, they can be mitigated by continuous communication, which will be facilitated through these meetings,” he added.

The meeting, to be held in three sessions on February 24 and 25, will cover issues such as leveraging digital public infrastructure to advance financial inclusion and productivity gains. Financing resilient, inclusive and sustainable cities for tomorrow and strengthening multilateral development banks to address shared global challenges such as the Sustainable Development Goals.