Nirmala Sitharaman: Nirmala Sitharaman, the Union Finance Minister, arrived in Washington on Sunday to take part in additional G20 meetings as well as the 2023 Spring Meetings of the World Bank Group and International Monetary Fund. Ambassador Taranjit Singh Sandhu welcomed her. Sitharaman is in the US for a week-long trip.
Multilateral discussions on a number of urgent global issues
The first meeting, to be held at the IMF Headquarters in Washington, will involve Sitharaman meeting with finance ministers and central bankers from all over the world. Along with Reserve Bank of India Governor Shaktikanta Das, she will co-chair the second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting on April 12. 350 participants from the G20, 13 invited nations, and numerous international and regional organisations are expected to attend the meeting. They will participate in multilateral discussions on a number of urgent global issues, such as addressing food and energy insecurity, managing the risks associated with the world’s debt, bolstering Multilateral Development Banks, raising money for climate action, and moving issues related to international tax and the financial sector forward more quickly.
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Three sessions will be held during the second G20 FMCBG meeting
The conference, according to the Finance Ministry, will assess the status of the goals set forth in India’s G20 Finance Track agenda. The third G20 FMCBG conference, which will be place in Gandhinagar, Gujarat, in July of this year, will enhance efforts towards the drafting of G20 India Finance Track deliverables. The Leaders Declaration, which will be adopted at the New Delhi Summit in September 2023, is anticipated to benefit from the informed contributions made by the Finance Track during these meetings. Three sessions will be held during the second G20 FMCBG meeting, covering international taxes, sustainable finance, the financial sector, and financial inclusion. The first session will focus on the global economy and international financial architecture.
India will co-chair the Global Sovereign Debt Roundtable
Tuesday’s high-level discussion between the US Treasury Secretary Janet Yellen and the Finance Minister will focus on issues of relevance to both parties. Additionally, on April 12, 2023, India will co-chair the Global Sovereign Debt Roundtable alongside the World Bank and the International Monetary Fund. The current state of the world’s debt and strategies for overcoming current debt restructuring issues will be the main topics of discussion at this summit.
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