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WASHINGTON, October 16 (PTI) Union Finance Minister Nirmala Sitharaman said India is preparing to focus on several key issues such as multinational development banks, debt status and climate change during its G20 presidency next year.
During the just-concluded annual meetings of the International Monetary Fund and the World Bank, the Indian delegation, including Sitharaman, briefed G20 finance ministers and central bank governors on India’s priorities as chairman of the world’s major economies group.
India will hold the G20 presidency for one year, from December 1, 2022 to November 30, 2023.
“We had an informal breakfast with G20 members. The atmosphere was very positive and cooperative. I didn’t hesitate to find that they were all expanding their cooperation and said that the year of the Indian President should deal with issues and we are all here to support and cooperate. This is an expression of meaning,” Sitharaman said in response to a question on Saturday.
The minister said she did not set out the agenda in detail, but touched on a wide range of issues that would be of interest to India.
“I would say that we certainly want G20 members to discuss how multilateral development banks can make better use of the endowments they have, in no particular order,” she said.
“Also, consider accessing other sources that can improve their finances because, first, they have to be more flexible in accessing development funding and second, they have to be better at deploying the resources they have in place efficiently.
“So that’s definitely one of the things we’re going to address, how is that going to be an agenda point and how specifically we’re going to try to make it up to everyone’s opinion,” she added.
Debt issues could also be on the agenda, Sitharaman said.
“I know solutions have been found during the pandemic, sustainable development initiatives. Now that period has passed. Vulnerabilities are now emerging in more countries, and many middle-income countries are themselves at high risk,” she said. .
The generic framework didn’t really deliver as expected. So this is definitely one of the issues that India wants members to discuss and get some kind of outcome during its presidency, she said.
“Thirdly, we’re going to be talking about climate finance… We think a big part of this debate has to take place within the UNFCCC. So issues related to the environment should arise from there. Of course, there will be a role for multilateral institutions,” she said. Say.
Sitharaman began a six-day visit to the United States on October 11. During her visit, in addition to attending the annual meetings of the International Monetary Fund and the World Bank, she also held bilateral meetings with her counterparts in several countries.
(This is an unedited and auto-generated story from the Syndicated News feed, the body of the content may not have been modified or edited by LatestLY staff)
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