G20 experts on World Bank reform kick off US meetings
1 year, 8 months ago

G20 experts on World Bank reform kick off US meetings

Live Mint  

New Delhi: The G20 expert group on strengthening multilateral development banks has begun its work in the US capital amid intensified discussions on reforming the World Bank —a key agenda of India’s presidency of the grouping. The high-level group has assumed critical importance in the backdrop of an intensified discussion on the reform of institutions such as the World Bank, a core theme of both the spring meeting discussions as well as India’s G20 finance track meeting. Sitharaman said on Friday India’s initiative was “very well appreciated” and that the G20 FMs and central bank governors had accepted the formation of the group. Besides Summers and Singh as co-convenor, the group includes Singapore’s senior minister Tharman Shanmugarathnam, former director general of the South African national treasury Maria Ramos, former governor of the Central Bank of Brazil Arminio Fraga, London School of Economics academic Nicholas Stern, former World Bank chief economist Justin Yifu Lin, former World Bank vice president and current dean of the Fletcher School at Tufts University Rachel Kyte, and former executive secretary of the Economic Commission for Africa Vera Songwe.

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History of this topic

NK Singh unveils MDB reform road map
1 year, 2 months ago

NK Singh unveils MDB reform road map

Hindustan Times  

Suggesting that the world was at an inflection point, NK Singh, the co-convener of the G20 independent expert group to strengthen and reform multilateral development banks, has urged G20 countries and MDB shareholders to endorse the principles of MDBs working together and convey this mandate to their respective representatives on executive boards of MDBs. NK Singh said volume one of …

Sign world's multipolarization is accelerating
1 year, 3 months ago

Sign world's multipolarization is accelerating

China Daily  

The logo of the African Union is seen at the entrance of the AU headquarters on March 13, 2019, in Addis Ababa. AU Commission Chairperson Moussa Faki said that the AU's joining the group would amplify the continent's advocacy and contributions to meeting global challenges. As the most important platform for African countries, the AU actively coordinates its members to …

G20 Declaration Shows World Leaders Found The Right Way: World Bank President Ajay Banga
1 year, 3 months ago

G20 Declaration Shows World Leaders Found The Right Way: World Bank President Ajay Banga

ABP News  

Commending India’s G20 Presidency, World Bank President Ajay Banga on Sunday lauded the G20 leaders on their ability to agree on a declaration. He said, “I consider the fact that there was a declaration, a tribute to the fact that the G 20 leadership found a way to give and take and negotiate and find a right way to agree …

Business News Live Updates Stock Market G20 Summit New Delhi IMF World Bank India-Middle East-Europe Economic Corridor Biofuel
1 year, 3 months ago

Business News Live Updates Stock Market G20 Summit New Delhi IMF World Bank India-Middle East-Europe Economic Corridor Biofuel

ABP News  

Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. G20 leaders despite the challenges concerning the Russia-Ukraine war, adopted the Joint Declaration at the New Delhi G20 Summit on Saturday. On global debt vulnerabilities, G20 leaders convened in New Delhi and reaffirmed their position, which is consistent with the statements made in Bali last year. Sitharaman said, …

G20 Countries Signed Agreement To Collectively Boost MDBs Financing Capacity: FM Nirmala Sitharaman
1 year, 3 months ago

G20 Countries Signed Agreement To Collectively Boost MDBs Financing Capacity: FM Nirmala Sitharaman

ABP News  

Finance Minister Nirmala Sitharaman on Saturday said the G20 countries have signed an agreement to collectively work to boost the World Bank's financing capacity. Following the second session of the G20 Leadership Summit in Delhi, a Press briefing by Union Minister Nirmala Sitharaman and S. Jaishankar was held. Finance Minister Nirmala Sitharaman highlighted four key developments related to reforming international …

G20 Summit: Managed to found common ground on geopolitical issues, represented Global South, says Jaishankar
1 year, 3 months ago

G20 Summit: Managed to found common ground on geopolitical issues, represented Global South, says Jaishankar

India TV News  

G20 Summit 2023 : As India marked a significant achievement by adopting New Delhi G20 Leader's Declaration, External Affairs Ministers Dr S Jaishankar said that under India's presidency, leaders managed to find common ground on key issues, particularly the Russia-Ukraine war, and that the summit represented the interests of the Global South. Union Finance Minister Nirmala Sitharaman, who was also …

G20 summit kicks off; leaders begin deliberations on pressing challenges facing globe
1 year, 3 months ago

G20 summit kicks off; leaders begin deliberations on pressing challenges facing globe

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi, US President Joe Biden and other top leaders of the world's wealthiest economies began deliberations on pressing global challenges at the G20 Summit here on Saturday under the shadow of the Ukraine war that has significantly fragmented the global geopolitical order. The leaders attending the summit include German Chancellor Olaf Scholz, French President Emmanuel …

G20 Summit 2023: World Bank lauds transformative impact of digital public infrastructure in India
1 year, 3 months ago

G20 Summit 2023: World Bank lauds transformative impact of digital public infrastructure in India

India TV News  

G20 Summit 2023 : The G20 Global Partnership for Financial Inclusion document prepared by the World Bank has lauded the transformative impact of Digital Public Infrastructure in India ahead of the G20 Summit in New Delhi - saying that the country has achieved in six years that would have otherwise taken five decades. Role of UPI, cross-border payments Additionally, India …

G20 could pave way for crypto regulation, financial inclusion push
1 year, 3 months ago

G20 could pave way for crypto regulation, financial inclusion push

The Hindu  

India’s G20 presidency could leave a lasting legacy for the world’s financial architecture by paving the way for a global template to regulate crypto assets, steering a shake-up of multilateral development banks that could yield additional financing of $200 billion over eight years to help countries deal with emerging challenges, and advancing financial inclusion. India has brought the regulation of …

80% Of World GDP, 75% Of Global Trade: Why G20 Is Big Deal
1 year, 3 months ago

80% Of World GDP, 75% Of Global Trade: Why G20 Is Big Deal

ABP News  

Preparation is in full swing for the G20 summit to be held in New Delhi on September 9 and 10, with India as the chair. India's presidency will be a significant milestone as it seeks to find practical global solutions for the benefit of all and embody the idea of "Vasudhaiva Kutumbakam," or "the world is one family." The grouping …

How India's G20 Summit agenda plans to reform multilateral development banks
1 year, 3 months ago

How India's G20 Summit agenda plans to reform multilateral development banks

India Today  

During its G20 presidency, India has emphasised the need to reform and strengthen multilateral development banks in response to evolving geopolitical dynamics and the rise of the Global South. Established nearly 80 years ago after World War II, MDBs such as the World Bank and the International Monetary Fund need significant restructuring to adapt to the rapidly changing global economic …

G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman
1 year, 3 months ago

G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman

Live Mint  

As India is holding its presidency for the G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must. Sitharaman said, “Given the consideration of things and the developments across the world, we thought we should address this question of debt distress. …

Finance minister calls for concerted global efforts to restructure debt for poor countries
1 year, 4 months ago

Finance minister calls for concerted global efforts to restructure debt for poor countries

India TV News  

Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge. Addressing online a G20 session, organised by the finance ministry and the Reserve Bank here, ahead of the grouping's summit next month in New Delhi, she said multilaterism faces the …

Nirmala Sitharaman meets Chinese counterpart, discusses global debt vulnerabilities
1 year, 5 months ago

Nirmala Sitharaman meets Chinese counterpart, discusses global debt vulnerabilities

The Hindu  

Finance Minister Nirmala Sitharaman on July 18 met her Chinese counterpart Liu Kun and discussed various deliverables under G20 India Presidency, including strengthening Multilateral Development Banks and global debt vulnerabilities. Minister Liu Kun also appreciated work of the G20 Independent Expert Group for Strengthening MDBs setup under #G20India Presidency," the tweet said. @nsitharaman and Mr Liu Kun, Finance Minister of …

G20 finance chiefs meeting in India address global challenges like climate change and rising debt
1 year, 5 months ago

G20 finance chiefs meeting in India address global challenges like climate change and rising debt

Associated Press  

NEW DELHI — Finance ministers from the Group of 20 nations meeting in India on Monday are poised to address critical global economic challenges, including the threats posed by climate change and rising debt among low-income countries. “The world is looking to the G20 to make progress on key challenges like climate change and pandemics as part of our work …

G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres
1 year, 5 months ago

G20 Summit in India opportunity to act on reforming global financial system amid crushing debt crisis: U.N. chief Guterres

The Hindu  

U.N. Secretary-General Antonio Guterres has said that the G20 Summit to be hosted under India's Presidency provides an opportunity to take action on debt relief and reform the global financial system, as he voiced concern over the "crushing debt crisis" in the world. Mr. Guterres said that because most of these unsustainable debts are concentrated in poor countries, they are …

Focus on holistic reform,Sitharaman tells G20 expert group
1 year, 8 months ago

Focus on holistic reform,Sitharaman tells G20 expert group

Hindustan Times  

Washington In a meeting with the G20 expert group on strengthening multilateral development banks, Union finance minister Nirmala Sitharaman called for a “transformative” rather than incremental change in the banks; a “holistic” rather than fragmented approach to reform; and the need for more financing to achieve both developmental and climate goals, without viewing them as mutually exclusive. This is happening …

Multilateral devt banks need transformative reform: FM Sitharaman
1 year, 8 months ago

Multilateral devt banks need transformative reform: FM Sitharaman

Live Mint  

In a meeting with the G20 expert group on strengthening multilateral development banks, Union finance minister Nirmala Sitharaman called for a “transformative” rather than incremental change in the banks; a “holistic” rather than fragmented approach to reform; and the need for more financing to achieve both developmental and climate goals, without viewing them as mutually exclusive. People familiar with the …

Amid challenges, G20 expert group kicks off work on reforming MDBs
1 year, 8 months ago

Amid challenges, G20 expert group kicks off work on reforming MDBs

Hindustan Times  

Washington Amid both contextual and fundamental challenges, the G20 expert group on strengthening multilateral development banks, under the leadership of former United States treasury secretary Larry Summers and veteran Indian policymaker NK Singh, commenced its work in Washington DC in the past week on the margins of the spring meetings of the International Monetary Fund and the World Bank. Finance …

Progress on crucial G20 finance issues: Nirmala
1 year, 8 months ago

Progress on crucial G20 finance issues: Nirmala

Hindustan Times  

The G20 finance track has made progress on issues of debt distress, with China “positively engaged” in the process; the reform of multilateral development banks with “broad-based unanimity” on “proportionate” spending on poverty, prosperity and climate goals; and the need to have a global understanding on crypto regulation based on the recognition that their flows can affect macro-economic stability, finance …

Historic opportunity to reform World Bank: FM
1 year, 8 months ago

Historic opportunity to reform World Bank: FM

Hindustan Times  

With discussions around the evolution of multilateral development banks intensifying, Union finance minister Nirmala Sitharaman on Wednesday said that the calls to reinvigorate the World Bank present a “historic opportunity” to make the institution “fit for purpose” to achieve sustainable development goals as well as address national and global developmental challenges. Union finance minister Nirmala Sitharaman with US Department of …

On Washington’s 18th St, a bank waits for change
1 year, 8 months ago

On Washington’s 18th St, a bank waits for change

Hindustan Times  

When the United States invited 44 allied nations to Bretton Woods in New Hampshire in May 1944, the meeting was convened for the purpose of formulating proposals for an International Monetary Fund “and possibly a Bank for Reconstruction and Development”. Twenty-five years ago, Kapur, Lewis and Webb wrote, “From 1960 onward, American governments of whatever party and presidency would have …

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman
1 year, 8 months ago

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman has said India’s G20 presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. She also said G20 is trying to bring together all countries to address debt distress in middle-income and low-income nations like Sri Lanka …

FM Sitharaman arrives in Washington for spring meetings, second G20 finance ministers meet
1 year, 8 months ago

FM Sitharaman arrives in Washington for spring meetings, second G20 finance ministers meet

Hindustan Times  

Washington: Finance minister Nirmala Sitharaman arrived in Washington on Sunday to attend the spring meetings of the International Monetary Fund and World Bank and chair the second G20 finance ministers and central bank governors meeting under the Indian presidency. India’s Finance Minister Nirmala Sitharaman meets Minister of Finance and Economic Affairs of the Republic of Malawi Sosten Gwengwe on the …

FM Sitharaman to attend 2023 Spring Meetings of World Bank, IMF this week
1 year, 8 months ago

FM Sitharaman to attend 2023 Spring Meetings of World Bank, IMF this week

Live Mint  

Union Finance Minister Nirmala Sitharaman on Monday will attend the 2023 Spring Meetings of the World Bank Group and International Monetary Fund and other G20 meetings in Washington. Sitharaman and Reserve Bank of India Governor Shaktikanta Das will jointly chair the 2nd G20 Finance Ministers and Central Bank Governors, FMCBG meeting on 12 April. The 2nd G20 FMCBG meeting will …

FM leaves for US; to host G20 meeting, attend IMF, World Bank meetings
1 year, 8 months ago

FM leaves for US; to host G20 meeting, attend IMF, World Bank meetings

Live Mint  

Finance Minister Nirmala Sitharaman will be leaving for the US to attend the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund, along with G20 meetings. During her week-long trip, she will be hosting the second G20 Finance Ministers and Central Bank Governors meeting under India's G20 Presidency and G20-related side events, said the finance ministry …

India’s Modi asks G20 finance heads to focus on ‘most vulnerable’
1 year, 10 months ago

India’s Modi asks G20 finance heads to focus on ‘most vulnerable’

Al Jazeera  

Financial viability of many countries is being threatened by unsustainable debt, Indian PM says, as two-day G20 meeting begins in Bengaluru. Policymakers of the Group of 20 leading economies should focus on helping the world’s most vulnerable people, India’s Prime Minister Narendra Modi has said as top-level financial talks kick off near the Indian technology hub of Bengaluru. “You represent …

There's greater optimism that the world may avoid deep recession: RBI Governor at G20 FMs meet
1 year, 10 months ago

There's greater optimism that the world may avoid deep recession: RBI Governor at G20 FMs meet

India TV News  

G20 Summit: Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. "Together, we must resolutely address the challenges that confront us, including those that are of …

FM meets US Treasury Secretary ahead of G20, discuss crypto regulation and more
1 year, 10 months ago

FM meets US Treasury Secretary ahead of G20, discuss crypto regulation and more

India Today  

Before the first G20 meeting, the Finance Ministers and Central Bank Governors conference was held on Thursday under the G20 Indian Presidency. The recent meeting included the finance ministers and central bank governors of G20 member countries, invitee countries, and leaders of major international organisations; almost 500 foreign delegates in Bengaluru. Conversations around crypto On this occasion, Konix, a crypto …

India likely to propose expert G20 group for World Bank reforms: Report
1 year, 10 months ago

India likely to propose expert G20 group for World Bank reforms: Report

Live Mint  

India is likely to propose forming an expert G20 group to look into reforms at the World Bank and to increase the lending capacity of the institution for climate financing in middle and low income countries, three sources told Reuters. The development comes as World Bank President David Malpass held a discussion with Finance Minister Nirmala Sitharaman on Wednesday on …

G-20 finance chiefs to tackle global economic threats
1 year, 10 months ago

G-20 finance chiefs to tackle global economic threats

Associated Press  

BENGALURU, India — Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt. This week’s gathering of finance ministers and central bank governors takes place just a year after Russia invaded Ukraine, …

G20 Summit 2023 : Members support India’s finance priorities
2 years ago

G20 Summit 2023 : Members support India’s finance priorities

The Hindu  

The first G20 Finance and Central Bank Deputies meeting has received the support on the proposed priorities of India’s G20 Finance Track agenda for 2023, said Ajay Seth, Secretary, Department of Economic Affairs. The first G20 FCBD meeting is being held in Bengaluru between December 13 and 15, and Mr. Seth told reporters on Wednesday that overall, the meeting saw …

G20: 15 More Meetings to be held in Maharashtra; Amitabh Kant Says Big Opportunity to Improve Cities' Infrastructure
2 years ago

G20: 15 More Meetings to be held in Maharashtra; Amitabh Kant Says Big Opportunity to Improve Cities' Infrastructure

News 18  

After last week’s first round of Sherpa track meetings under India’s G20 presidency, the four-day G20 Development Working Group began in the financial capital of the country, Mumbai. The Finance Track will kick off its meetings Tuesday with discussions on economic and financial issues, including global economic outlook, infrastructure development, sustainable finance, global health, international taxation, financial sector issues and …

India to seek harmony in crypto regulation in G-20 finance talks
2 years ago

India to seek harmony in crypto regulation in G-20 finance talks

The Hindu  

A coordinated approach to regulating crypto assets, managing debt vulnerabilities and reorienting global financial institutions have been identified as critical focus areas of the Finance Track agenda for India’s G-20 Presidency, which will kick-off with the first meeting of G-20 Finance and Central Bank Deputies in Bengaluru on Tuesday. Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta …

Many challenges, says Nirmala Sitharaman, as India takes up G20 presidency
2 years, 2 months ago

Many challenges, says Nirmala Sitharaman, as India takes up G20 presidency

The Hindu  

India would be taking over the Group of Twenty presidency at “a time when there are so many challenges”, Finance Minister Nirmala Sitharaman has said. Ms. Sitharaman said that Indonesia, whose delegation was led this week by its Finance Minister Sri Mulyani Indrawati, had done its best and “remained calm” while trying to bring the group together. ED is ‘completely …

Sitharaman discusses current global situation and G-20 presidency with Gita Gopinath
2 years, 2 months ago

Sitharaman discusses current global situation and G-20 presidency with Gita Gopinath

The Hindu  

Finance Minister Nirmala Sitharaman has met IMF's Deputy Managing Director Gita Gopinath during which they discussed current global matters and India’s G-20 presidency next year. Ms. Sitharaman is currently in the city to attend the annual meeting of the International Monetary Fund and the World Bank, on the sidelines of which she has held a large number of bilateral and …

Sitharaman calls for global policy coordination at G20
2 years, 8 months ago

Sitharaman calls for global policy coordination at G20

Live Mint  

Finance minister Nirmala Sitharaman on Thursday pressed for international policy coordination and proactive collective efforts to protect economies amid geopolitical events dampening growth and recovery prospects. Speaking at the G20 Finance Ministers & Central Bank Governors meeting in Washington D.C., Sitharaman flagged economic challenges arising from prolonged inflation, supply chain disruption, volatility in energy markets, and investor uncertainty for all …

Nirmala meets IMF chief; discusses impact of geopolitical situation on global growth
2 years, 8 months ago

Nirmala meets IMF chief; discusses impact of geopolitical situation on global growth

Deccan Chronicle  

Washington: Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth. During the meeting held on the sidelines of the ongoing annual spring meetings of the International Monetary Fund and the World Bank, the IMF chief highlighted India's well-targeted policy mix that has helped …

FM Nirmala Sitharaman embarks on week-long US visit to attend G-20, World Bank meetings
3 years, 2 months ago

FM Nirmala Sitharaman embarks on week-long US visit to attend G-20, World Bank meetings

India TV News  

Finance Minister Nirmala Sitharaman has embarked on a week-long US trip to attend the annual meet of the World Bank and IMF as well as G20 Finance Ministers and Central Bank Governors meeting. @nsitharaman will be attending the Annual Meetings of @IMFNews & @WorldBank, G20 FMCBG meetings, India-US Economic and Financial Dialogue, and other associated investment meetings as part of …

Digital taxation needs to be simple and inclusive: Nirmala Sitharaman
4 years, 5 months ago

Digital taxation needs to be simple and inclusive: Nirmala Sitharaman

Live Mint  

New Delhi: Amid the on-going row over digital taxation, Finance Minister Nirmala Sitharaman on Saturday said that a consensus-based solution on the issue should be simple and inclusive based on a robust economic impact assessment. Referring to the issues concerning international taxation and challenges related to digital taxation, Sitharaman said, "It is imperative that this consensus-based solution should be simple, …

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