Ajit Karn
Nirmala Sitharaman arrives in Washington to attend the 2023 Spring Meetings of the World Bank Group and International Monetary Fund as well as other G20 meetings.
The ambassador Taranjit Singh Sandhu welcomed her. Sitharaman is visiting the United States for one week.
The FM of the Union Nirmala Sitharaman will participate in spring meetings with Finance Ministers and Central Bankers from around the globe. The meeting is scheduled for today at the IMF headquarters in Washington, DC.
Sitharaman and Shaktikanta Das, governor of the Reserve Bank of India, will co-chair the April 12 meeting of G20 finance ministers and central bank governors.
Approximately 350 delegates from G20 member nations, 13 invited nations, and numerous international and regional organizations will attend.
They will engage in multilateral discussions concerning a wide range of urgent global issues. During the meeting, topics such as addressing food and energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks, mobilizing finance for climate action, and accelerating progress on International Tax and Financial Sector issues will be prioritized.
According to the Finance Ministry, the meeting will assess the progress made toward the outcomes envisioned by India’s G20 Finance Track agenda.
The 2nd G20 FMCBG meeting will advance preparations for the G20 India Finance Track deliverables for the 3rd G20 FMCBG meeting, which will take place in Gandhinagar, Gujarat, in July of this year.
It is anticipated that these meetings will provide informed contributions to the Leaders Declaration that will be adopted at the New Delhi Summit in September 2023.
The second G20 FMCBG meeting will include three sessions: global economy and international financial architecture, sustainable finance, financial sector and financial inclusion, and international taxation.
“Attacking food & energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilising finance for climate action, advancing financial inclusion, and accelerating progress on International Tax and Financial Sector issues will be the focus of these sessions. The meeting will assess the progress made toward the outcomes envisioned in India’s G20 Finance Track agenda, according to an official release.
On Tuesday, the Finance Minister will meet with US Treasury Secretary Janet Yellen for a high-level meeting to discuss issues of mutual interest.
On April 12, 2023, India, the International Monetary Fund, and the World Bank will co-chair a meeting of the Global Sovereign Debt Roundtable to discuss the current global debt landscape and methods to address existing challenges in debt restructuring.
Also read this:Singapore arrivals at two-thirds pre-COVID levels as Indian visitors rise 350% from previous year
“On April 14, 2023, a high-level seminar titled “Macro-financial implications of Crypto assets” will be conducted to examine the macro-financial implications of Crypto Assets and to discuss policies to maximize benefits and mitigate risks. The release states that on April 15, 2023, Smt. Sitharaman will convene with the G20 Expert Group on Strengthening MDBs to discuss the need for an updated MDBs ecosystem for the 21st century in order to finance sustainable development goals and transboundary challenges.
