India thanks G20 nations for support to its presidency
Indian Union Finance Minister Nirmala Sitharaman on February 25 said that India`s G20 presidency had received strong support from all members on all key priorities. Indian Finance Minister also said that she is grateful to the USA and the UK for their supportive role in the global coordination framework, particularly on crypto. Addressing a press conference on the concluding day of the 1st Finance Ministers and Central Bank Governors meeting, Sitharaman said "Saudi Arabia came to help with the resolution on fuel security. China and Saudi Arabia came forward on climate finance mobilization. Japan and the United Kingdom supported all priorities of India`s G20 presidency”. During the deliberations, quite a few finance ministers and the central bank governors did mention India`s `United Payments Interface` as a success story, which can guide the future of interoperable payment systems between countries and for the cross-border transfer of money. The meeting of the 1st Finance Ministers and Central Bank Governors (FMCBG) under India`s G20 presidency agreed to strengthen multilateral coordination by official bilateral and private creditors to address the deteriorating debt situation and facilitate coordinated debt treatment for debt-distressed countries. Finance Minister Nirmala Sitharaman also held a roundtable with the heads of the World Bank and the IMF and discussed the issue of debt restructuring faced by some countries. The roundtable with World Bank President David Malpass and IMF managing director Kristalina Georgieva held on the sidelines of the first G20 Finance Ministers and Central Bank Governors meeting discussed the issue of debt restructuring challenges and debt vulnerabilities. The Finance Ministry said in a Tweet that the Finance Minister flagged the need to acknowledge today`s diverse creditor landscape and build a common understanding of challenges and ways to address them.
Indian Union Finance Minister Nirmala Sitharaman on February 25 said that India`s G20 presidency had received strong support from all members on all key priorities. Indian Finance Minister also said that she is grateful to the USA and the UK for their supportive role in the global coordination framework, particularly on crypto. Addressing a press conference on the concluding day of the 1st Finance Ministers and Central Bank Governors meeting, Sitharaman said "Saudi Arabia came to help with the resolution on fuel security. China and Saudi Arabia came forward on climate finance mobilization. Japan and the United Kingdom supported all priorities of India`s G20 presidency”. During the deliberations, quite a few finance ministers and the central bank governors did mention India`s `United Payments Interface` as a success story, which can guide the future of interoperable payment systems between countries and for the cross-border transfer of money. The meeting of the 1st Finance Ministers and Central Bank Governors (FMCBG) under India`s G20 presidency agreed to strengthen multilateral coordination by official bilateral and private creditors to address the deteriorating debt situation and facilitate coordinated debt treatment for debt-distressed countries. Finance Minister Nirmala Sitharaman also held a roundtable with the heads of the World Bank and the IMF and discussed the issue of debt restructuring faced by some countries. The roundtable with World Bank President David Malpass and IMF managing director Kristalina Georgieva held on the sidelines of the first G20 Finance Ministers and Central Bank Governors meeting discussed the issue of debt restructuring challenges and debt vulnerabilities. The Finance Ministry said in a Tweet that the Finance Minister flagged the need to acknowledge today`s diverse creditor landscape and build a common understanding of challenges and ways to address them.
