IMF ‘fully supports’ India’s G20 agenda for much more prosperous future amid global crisis

Image Source : INDIA TV IMF ‘fully supports’ India’s G20 agenda for much more prosperous future amid global crisis

IMF on India’s G20 agenda: The International Monetary Fund (IMF) stated that it “fully supports” the G20 agenda of India, which aims to use the current global crisis to find consensus on issues that need immediate attention.

The statement by the international financial body came after India formally assumed the G20 Presidency on Thursday, December 1. 

Speaking to the media, Ceyla Pazarbasioglu, Director of the Strategy and Policy Review department at the IMF, said India is putting together a collective agenda for a much more prosperous future.

“India plans to use the ongoing global crises as an opportunity to seek consensus on issues that really require urgent attention,” she said, referring to the food and energy crises due to the ongoing Russia-Ukraine war.

‘India is prioritising the need to work at the local level’

The theme of India’s G20 presidency is “One Earth, One Family, One Future. “This means that India is prioritising the need to set aside differences and work at the local level, the federal level, the international level,” remarked the IMF official.

Pazarbasioglu further said India has also announced its set of priorities which are important for the global community in addition to continuing with the G20 agenda.

“There are continuing efforts, be it on the debt side, be it on the tax side and other priorities. At the same time, India has also identified its own initiatives that they want to showcase,” she added. 

At the conclusion of the two-day G-20 summit in Bali last month, India was given the presidency of the influential bloc. Notably, India will be hosting the next G20 Leaders’ Summit on September 9-10, 2023, in New Delhi. 

About G20

The G20 or Group of 20 is an intergovernmental forum of the world’s major developed and developing economies. It comprises  Australia, Argentina, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

Together, they comprise two-thirds of the world’s population, 75% of international trade, and more than 80% of the world’s Gross Domestic Product. 

(With inputs from PTI)

ALSO READ: India takes over G20 Presidency, PM Modi pitches for ‘mindset shift’

Latest Business News

Source link

Leave a Reply