World News | Sitharaman says several countries are concerned about spillovers from decisions in developed countries

WASHINGTON, Oct. 16 (PTI) The spillover effects of several countries, including India, on the political and economic decision-making of developed countries during the just-concluded annual meetings of the International Monetary Fund and World Bank, said Union Finance Minister Nirmala Sitharaman. express concern.

The minister said she raised the issue prominently at the meeting here.

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Earlier this week, Sitharaman had said that in the short term, developed countries must be held accountable for global spillovers from their political and economic decisions and build safety nets, rather than imposing sanctions on countries that simply fulfill their moral and democratic obligations. their people.

Her remarks came after Western countries led by the United States pushed to reduce oil purchases from Russia and warned other countries would face sanctions if they continued to do so.

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In an interaction with a group of Indian journalists on Saturday, she said she had also raised the issue at bilateral and multilateral meetings.

“I’ve repeated this in some of my internal meetings,” she said in response to a question.

“I didn’t particularly notice any of the ministers and their reactions, but I did say so. By the way, in another meeting, Sri Mulyani (Indonesia’s finance minister Indrawati) also made a statement Opinions. Maybe one or two of those countries also made an opinion, if I remember correctly, maybe the Nigerian finance minister did too,” she said.

“There are several others who have also said … the unintended consequences of taking certain actions or the spillover (impact) of policy will certainly hurt our country,” she added.

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)