As G-20 chair, India has unique role in addressing global challenges: IMF chief
International Monetary Fund’s Managing Director Kristalina Georgieva said that as the chair of the powerful grouping of G-20 countries next year, India has a unique role to play to overcome global challenges by reaching out to different parts of the world using its long tradition of being inclusive and open to collaborate with all countries.
Georgieva made the remarks at a joint news conference with Nadia Calviño, Chair, the International Monetary and Finance Committee of the IMF.
“They (India) have a unique role to play to overcome challenges by reaching out to different parts of the world using India’s long tradition of being inclusive and open to collaborate with all countries,” Georgieva said.
“There is a particular task for India that we at the IMF are keen to see action on, and it is the 16th General Review of Quotas. During the meeting today, almost everybody said it has to be completed successfully, and I have confidence in India’s G-20 Presidency to help Nadia to achieve that objective,” Georgieva said in response to a question.
Union Finance Minister @nsitharaman met @GitaGopinath,First Deputy Managing Director of @IMFNews, on the sidelines of the IMF-WB Spring Meetings 2022, in Washington D.C. @FinMinIndia pic.twitter.com/WUbJjKh96E
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India is scheduled to be the chair of the G-20 countries, a powerful intergovernmental forum comprising 19 countries and the European Union (EU). The countries are Australia, Canada, Saudi Arabia, United States, India, Russia, South Africa, Turkey, Argentina, Brazil, Mexico, France, Germany, Italy, United Kingdom, China, Indonesia, Japan and South Korea.
Indonesia is the current chair of G-20.
“It is really by chance, but a good sequence that we have two large emerging market economies chairing the G-20, one after another at this moment of time. Why? Because what the meeting has demonstrated is anxiety among emerging markets that what has worked for them to pull people out of poverty, to bring dynamism in the economy, and it is straight and global cooperation, may be challenged,” Georgieva said in response to a question.
“In that sense I am confident that India will lead for us to fight to use the G-20 as a platform for global cooperation,” Georgieva said.
Calviño said, “the G-20, the IMFC, obviously the IMF and all the rest of international fora and institutions play a key role in ensuring coordinated action to respond to global challenges.”
“This has been stressed by all members throughout the meeting, and it is particularly important indeed that India can be leading the G-20 next year at this very important point in time to address common priorities like climate change, to address also support to the most vulnerable countries, et cetera,” Calviño said.
(With inputs from Agencies)
