IMF lauds India's strong economic performance and digitalisation of economy

The International Monetary Fund, IMF has appreciated India's strong economic performance in challenging global times and its role at the forefront of digitalisation of the economy. Finance Minister Nirmala Sitharaman and Managing Director, IMF Kristalina Georgieva today held a virtual conversation to discuss the upcoming G20 Finance Ministers and Central Bank Governors meeting scheduled to be held in Bengaluru later this month. Kristalina Georgieva also appreciated India’s contribution of 50 million dollars for South Asia Regional Training and Technical Assistance Center in Delhi, which is in partnership between IMF and India. She said, this will further strengthen India and IMF’s role in building capacity in the South Asia Region.

During the discussion both leaders recognised that the voices of the most vulnerable and under-represented need to be heard through the leadership of the G20 nations. Finance Minister Nirmala Sitharaman stressed on the need to ensure food and Energy Security for all. She asked the IMF for support to the Indian Presidency in the form of detailed technical analysis to develop evidence-based policy guidance on the issue. Mrs Sitharaman informed that debt discussions will be at the forefront of G20 Finance Track discussions and India will continue to support the ongoing efforts for orderly and timely implementation of the Common Framework. Along with addressing debt vulnerabilities, Mrs Sitharaman also discussed the role of IMF and other relevant international organisations to develop a globally coordinated approach on the regulation of Crypto Assets. The Finance Minister told Ms Georgieva that India will continue to play its leadership role during the Presidency to strengthen multilateralism and Global Governance for a peaceful, sustainable, and prosperous world for all.

Finance Minister and Kristalina Georgieva both expressed solidarity with those affected by the devastation in Turkey and Syria. Mrs Sitharaman conveyed India’s immediate support extended by Prime Minister Narendra Modi  through deployment of NDRF and medical teams under Operation Dost.

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