FM Sitharaman discusses debt vulnerabilities with IMF's Gita Gopinath
The Finance Minster also congratulated Gopinath for accelerating India's work on the Global Sovereign Debt Roundtable along with the World Bank.
Union finance minister Nirmala Sitharaman on Tuesday met with International Monetary Fund's (IMF) first deputy manager Gita Gopinath on the sidelines of the IMF-World Bank spring meeting 2023 in Washington. Sitharaman discussed debt vulnerabilities along with other issues during the meeting.
Also read: ‘Muslims in India…’: Nirmala Sitharaman on negative Western ‘perception’
According to Union finance ministry's tweet, Sitharaman noted IMF's concerns on key downside risks to the economy. “FM Smt.@nsitharaman noted IMF’s concerns on key downside risks to the economy including financial sector stress, rising real interest rates, elevated debt, inflation, geo-political fragmentation, and faltering growth in China, as highlighted in World Economic Outlook,” it said.
The Finance Minster also congratulated Gopinath for accelerating India's work on the Global Sovereign Debt Roundtable along with the World Bank.
Sitharaman is chairing a high-powered Indian delegation to attend the IMF-World Bank spring meeting. She acknowledged IMF's support to the G20 presidency of India in the form of inputs towards developing evidence-based policy guidance.
Gopinath congratulated the Finance Minister for having fruitful discussions that translated the February consensus on the need for a globally coordinated policy response on crypto assets into an agreed set of guiding principles and an action plan on crypto assets.
Sitharaman earlier met with her Saudi Arabian counterpart Mohammed Aljadaan and discusses the global debt crisis along with the strengthening of multilateral development banks. They also discussed global inflation issues and improving the implementation of the Common Framework as well as need to tackle glonbal debt distress.
