World News | India-led G20 can make concrete progress on debt relief, cryptocurrencies, climate finance: Gita Gopinath

WASHINGTON, 15th December (PTI) Gita Gopinath, First Deputy Managing Director of the International Monetary Fund, said the G20 could make concrete progress in three key areas under India’s presidency: debt relief, cryptocurrency regulation and climate finance. .

Gopinath, who is in India for the deliberations held as part of the G20, explained the three areas in a video posted on Twitter.

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“We have a large number of low-income countries that are in debt. While we have the G20 Common Framework to help with debt, we absolutely need to increase the strength of the mechanism and address issues in a more timely manner,” she said.

Referring to the recent cryptocurrency debacle, she said it was clear that internationally agreed regulatory standards had become necessary.

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“Making progress on this, being able to achieve this by 2023 will be a concrete outcome,” she said.

Regarding climate finance, Gopinath said: “In order for developing countries to adapt to climate change and contribute to climate change mitigation, they will need more money. This is the third area where concrete progress can be made.” PTI/LKJ

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)