Sitharaman calls for global policy coordination at G20
Live MintFinance 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 countries. “FM Sitharaman said that the G20 is well placed to catalyse international policy co-ordination to deal with macroeconomic consequences and called for proactive collective efforts towards protecting economies,” the ministry of finance tweeted on Thursday. The statement comes amid rising global crude oil and commodity prices led by the Russia-Ukraine war causing sharp spike in inflationary pressures across the globe, including India, impacting economic recovery prospects.