Indian Union Finance Minister Nirmala Sitharaman on Sunday reached Washington to attend the 2023 Spring Meetings of the World Bank Group and International Monetary Fund and other G20 meetings. Sitharaman, who is on a week-long visit to the US, will today be attending meetings with Finance ministers and bankers from around the world. The meeting will reportedly take place at IMF headquarters.
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On April 12th, Sitharaman along with Reserve Bank of India Governor Shaktikanta Das will also chair the second G20 Finance Ministers and Central Bank Governors, FMCBG meeting.
The finance minister will also meet with US Treasury Secretary Janet Yellen to discuss issues of mutual interest to the two countries.
Additionally, on April 12, a meeting of the Global Sovereign Debt Roundtable will be co-chaired by India, International Monetary Fund, and the World Bank, and discussions relating to the current global debt landscape and ways to address existing challenges in debt restructuring will be held.
As per the press release: “On April 14, 2023, a high-level seminar on “Macro-financial implications of Crypto assets” will be held to review the macro-financial implications of Crypto Assets and discuss policies to leverage benefits and contain risks. Smt. Sitharaman will also meet the G20 Expert Group on strengthening MDBs on April 15, 2023, to discuss the need for an updated MDBs ecosystem for the 21st century towards financing sustainable development goals and transboundary challenges,” the release said.
The G20 Finance Ministers and Central Bank Governors, FMCBG meeting will have as participants around 350 delegates from G20 member countries, along with representatives from 13 invitee nations and various international and regional organisations.
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The delegates, as per IANS, will hold discussions centred around a broad spectrum of pressing global issues. This includes addressing food and energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks, mobilising finance for climate action and accelerating progress on International Tax and Financial Sector issues.
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A statement by India said “The focus of these sessions will be to deliberate on issues such as addressing 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. The meeting will take stock of the progress made on outcomes envisaged under India’s G20 Finance Track agenda.”
