Finance Minister Nirmala Sitharaman Expresses Concern Over Global Economic Slowdown, Seeks Reforms in IMF Policy
FM reiterated commitment to a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net, and climate action on the principles of common but differentiated responsibilities and respective capabilities.
New Delhi, October 14: Finance Minister Nirmala Sitharaman on Saturday expressed concern over slowdown in global growth, even though she said that India continues to be the fastest growing large economy with growth at 7.8 per cent during the first quarter of 2023-24. She pointed out at the escalating global debt vulnerabilities and the importance of Global Sovereign Debt Roundtable to foster cooperation on debt issues and reforms in IMF policy to engage with members in debt distress.
She said this while attending the Restricted Breakfast Meeting of the IMF Board of Governors on the theme of “Dialogue on Policy Challenges” in Marrakech, Morocco. GST Council Meeting Headed by Finance Minister Nirmala Sitharaman Cedes Right To Levy Tax on Neutral Alcohol to States.
She reiterated commitment to a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net, and climate action on the principles of common but differentiated responsibilities and respective capabilities. World Bank Executives Meet Finance Minister Nirmala Sitharaman; Appreciate India’s Growth Across Various Sectors (See Pics).
Sitharaman emphasised that coordinated response of the global community will foster multilateralism in the spirit of ‘Vasudhaiva Kutumbakam’ - One Earth, One Family, One Future.
(The above story first appeared on LatestLY on Oct 14, 2023 04:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).