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WASHINGTON, Jan. 13 (PTI) The International Monetary Fund (IMF) chief said on Thursday that the international community is heavily reliant on India’s leadership in the Group of 20 nations at a time when the world faces a persistent economic slowdown and social distress.
IMF Managing Director Kristalina Georgieva told reporters at a media roundtable: “India, which chairs the G20, remains one of the countries that outperforms the global average, and The ratio is high.”
India officially assumed the presidency of the G20 (Group of 20) on December 1. The next G20 Heads of State/Government level leaders summit is scheduled to be held in New Delhi on September 9-10.
“We are very much dependent on India’s leadership in the G20. Because now is a critical moment for the world to protect its own well-being by protecting an integrated global economy. I hope India will do a tremendous global service that brings us together,” she says.
Georgieva praised India for embracing digitalisation.
“What we see we are doing very well for India is how the country is using digitalization accelerated by COVID-19 as a strong comparative advantage for public policy and private sector growth,” the IMF managing director said in response to a question.
For public policy, because the combination of digital identity and digital public infrastructure allows India to provide policy support on digital platforms and target those who receive support very well and become a model for priority vaccination. She pointed out that this approach is very good. efficient.
“On the private sector side, as this has become a fertile ground for brand financing and rapid expansion of businesses. India intends to use the G-20 as an area to build comparative strength,” she said.
Georgieva said that one of the priorities of the G20 is how to build digitalization on public platforms and public infrastructure, so that everyone can access and significantly reduce the cost of digitalization; how this can be a key to growth and employment. source. So it’s definitely an area.
She noted that India had undergone some painful reforms that were now paying off. She said the country is facing difficulties in terms of climate, and agriculture has been affected very badly due to its vulnerability to climate shocks, especially drought and heat.
“India is of course affected by developments in Asia. One of the countries – Sri Lanka is a neighbor, Pakistan is a neighbor – these countries are in turmoil. Of course, the Chinese economy is slowing down so fast, it has an impact on the whole of Asia .
“If I were in India today, I would be more worried about what is happening in the rest of the world and how that will affect me than domestic factors,” Georgieva said.
(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)
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