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 addressing debt vulnerabilities, India's finance ministry said. India's chief economic adviser on Tuesday said reforms at multilateral development banks would be at the top of the agenda for discussion during the G20 financial chiefs meet. Sitharaman told Malpass on Wednesday that climate finance was a focus area during India's G20 presidency and multilateral development banks "can play a major role in incentivising private capital, de-risking instruments, and providing greater concessional finance".

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History of this topic

World Bank boosts lending capacity by 50%, India set to gain most from $150 billion global push, says India head Kouame
1 month, 1 week ago

World Bank boosts lending capacity by 50%, India set to gain most from $150 billion global push, says India head Kouame

Live Mint  

NEW DELHI : The World Bank, sharpening its focus on expanding support for developing economies, has raised its lending capacity by 50%, positioning itself to offer a record $150 billion over the next decade to various countries, with a strong emphasis on green projects. "India is the biggest client and will have a bigger share of funding available from the …

Sitharaman Warns of Global Job Crisis: Focus on Multi-Sectoral Approach
1 month, 4 weeks ago

Sitharaman Warns of Global Job Crisis: Focus on Multi-Sectoral Approach

Deccan Chronicle  

Finance Minister Nirmala Sitharaman has highlighted jobs creation as the most pressing global issue, emphasizing the need for a comprehensive, multi-sectoral analysis to address the evolving skills landscape. She urged the World Bank to collaborate with countries to identify high-priority skilling sectors and develop an outcome-oriented roadmap for job creation and skill matching.

India and the World: A look at the 'global context' in Nirmala Sitharaman's Budget speech
10 months, 3 weeks ago

India and the World: A look at the 'global context' in Nirmala Sitharaman's Budget speech

Firstpost  

Finance Minister Nirmala Sitharaman, presenting her sixth Union Budget on Thursday, sought to place India’s budget in a global context. Let’s take a closer look: Sitharaman, making her record sixth Budget speech, said, “Geopolitically, global affairs are becoming more complex and challenging with wars and conflicts.” This of course, was a reference to the two wars that have dominated the …

India's G20 presidency: A watershed moment in crypto regulation
1 year, 2 months ago

India's G20 presidency: A watershed moment in crypto regulation

Hindustan Times  

In the annals of global diplomacy, India's tenure at the helm of the G20 presidency will be remembered as a period of significant milestones and transformative initiatives. From thriving in a rapidly expanding crypto sector to navigating hurdles such as high taxes, shadow bans on banks working with crypto companies, and the inclusion of cryptocurrency under the purview of PMLA, …

World Bank maintains India's GDP growth forecast for 2023-24 at 6.3%
1 year, 2 months ago

World Bank maintains India's GDP growth forecast for 2023-24 at 6.3%

India TV News  

The World Bank has decided to retain its GDP growth projection for India in the financial year 2023-24 at 6.3 percent. Earlier this year, the World Bank had revised India's growth forecast for 2023-24 from 6.6 percent to 6.3 percent in its April report. Despite substantial global challenges, the World Bank highlighted that India emerged as one of the fastest-growing …

World Bank maintains India's GDP growth at 6.3 % for FY24
1 year, 2 months ago

World Bank maintains India's GDP growth at 6.3 % for FY24

Hindustan Times  

The World Bank on Tuesday projected that India's economy will grow at 6.3% in the ongoing fiscal year, maintaining a projection that it first gave in April, months after its December 2022 estimate of 6.6% for FY23-24. World Bank maintains India current fiscal year growth forecast at 6.3% India's FY 2022-23 growth of 7.2% shows that the country ‘continues 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 …

'India did a great job on Declaration besides building its brand image at G20 Summit': World Bank chief Banga
1 year, 3 months ago

'India did a great job on Declaration besides building its brand image at G20 Summit': World Bank chief Banga

India TV News  

Ajay Banga, the head of the World Bank, who reached India for the G20 Summit in New Delhi, has praised India and said, "India has done a great job by bringing all communities together besides building its brand image at the mega event". While speaking to the media on the sidelines of the G20 Summit in the national capital, Banga, …

With G20 Consensus, India Unites World
1 year, 3 months ago

With G20 Consensus, India Unites World

Deccan Chronicle  

NEW DELHI: India stunned the world by pulling off a diplomatic coup on day one of the G20 Summit, achieving a near-impossible consensus in the G20 grouping on the Ukraine issue on Saturday. The New Delhi Leaders’ Declaration was “adopted unanimously with 100 per cent consensus across all countries without any footnote or Chair’s Summary”, G20 Sherpa of India Amitabh …

On the Finance Track, G-20 to push forward on crypto regulation, MDB reforms next month
1 year, 3 months ago

On the Finance Track, G-20 to push forward on crypto regulation, MDB reforms next month

The Hindu  

Paving the way for a co-ordinated global approach to regulating cryptocurrencies, strengthening multilateral development banks’ lending capacity and replicating the use of digital public infrastructure like the India Stack to expand financial inclusion around the world, were some of the 10 major outcomes achieved under the Finance Track of India’s G-20 presidency. G-20 Summit 2023 Sept. 9 updates Discussions on …

India ’walked the talk’ under G20 presidency, says Sitharaman
1 year, 3 months ago

India ’walked the talk’ under G20 presidency, says Sitharaman

Live Mint  

New Delhi: India has 'walked the talk' to acheive its finance track objectives under its G20 presidency, finance minister Nirmala Sitharaman, said on Saturday. The key achievements of the finance track under the Indian G20 presidency include a plan to strengthen the Multilateral Development Banks to address shared challenges, laying down the building blocks for a globally coordinated policy and …

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 …

Business News Highlights: India Launches India-Middle East- Europe Economic Corridor At G20
1 year, 3 months ago

Business News Highlights: India Launches India-Middle East- Europe Economic Corridor At G20

ABP News  

Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. New Delhi is all set to host the 18th G20 Leaders Summit from September 8 to 10, welcoming over 25 world leaders and various delegates at the Pragati Maidan venue. On Saturday, the global leaders will convene at Bharat Mandapam in New Delhi, where they will join Prime …

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure
1 year, 3 months ago

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure

Firstpost  

India has developed some of the finest digital public goods infrastructure which could change lives the world over. Lauding India’s Digital Public Infrastructure, the World Bank has said that what the country has achieved in just six years would have otherwise taken about five decades. Highlighted the key measures taken by the Modi government in shaping the Digital Public Infrastructure …

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 …

India’s rising geopolitical clout will be tested as it hosts the G20 summit
1 year, 3 months ago

India’s rising geopolitical clout will be tested as it hosts the G20 summit

Associated Press  

NEW DELHI — Ahead of India’s hosting of the G20 summit of leading economies, its prime minister invited 125 mostly developing countries to a virtual meeting in January to signal New Delhi’s intention to be their champion on the world stage. Steering through fractures among the world’s various blocs over Russia’s war in Ukraine will be a “diplomatic high-wire act” …

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 …

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 …

India focusing on economic growth, climate action: G20 Sherpa Amitabh Kant
1 year, 5 months ago

India focusing on economic growth, climate action: G20 Sherpa Amitabh Kant

Hindustan Times  

India’s focus during negotiations on outcomes for the G20 Summit was on economic growth, climate action and digital transformation, as contentious issues such as the Ukraine crisis were put on the back burner, the country’s G20 Sherpa, Amitabh Kant, has said. India’s G20 Sherpa Amitabh Kant The draft leaders’ declaration is based on recommendations which emerged from India’s Voice 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 FMCBG meet at Gandhinagar | India 'indispensable partner' for friend-shoring, says U.S. Treasury Secretary Janet Yellen
1 year, 5 months ago

G20 FMCBG meet at Gandhinagar | India 'indispensable partner' for friend-shoring, says U.S. Treasury Secretary Janet Yellen

The Hindu  

United States Secretary of the Treasury Janet Yellen on July 16 said the U.S. sees India as an “indispensable partner” for ‘friend-shoring’ and she hopes to use her visit here to deepen what is already a significant relationship in that respect. Ms. Yellen said, “Friend-shoring is an important foundation of our approach to increasing resilience of our supply chains, and …

Analysis | India stakes its G20 legacy on Global South imprint
1 year, 5 months ago

Analysis | India stakes its G20 legacy on Global South imprint

The Hindu  

As G20 negotiators led by Indian Sherpa Amitabh Kant continued discussions on the draft “Leader’s Declaration” for the Summit in September, the government is staking much of its resources on ensuring the membership of the African Union in the G20. India’s push to expanding the imprint of the Global South in the G20 body is also a way of diverting …

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 …

In G20, India is pushing for global cooperation
1 year, 5 months ago

In G20, India is pushing for global cooperation

Hindustan Times  

In December last year, India proudly assumed the G20 presidency for 2023, bringing together 19 members along with nine guest countries, three regional organisations, and 11 international organisations. India convened the Voice of the Global South Summit with 15 developing countries earlier in 2023, and is now piloting the G20 platform to resonate the Global South’s perspective, pushing for systems …

World Bank approves USD 1.5 billion financing for India's low-carbon transition
1 year, 5 months ago

World Bank approves USD 1.5 billion financing for India's low-carbon transition

India TV News  

The World Bank has approved USD 1.5 billion in financing to accelerate India's low-carbon energy infrastructure. In a release Friday, World Bank said the financing will help India promote low-carbon energy by scaling up renewable energy and developing green hydrogen, among others. Scaling up the production of renewable energy will accelerate the transition to low-carbon electricity and support the emergence …

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 …

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, …

India will stay on course; projected to grow at 7% in 2022-23: FM Sitharaman
1 year, 8 months ago

India will stay on course; projected to grow at 7% in 2022-23: FM Sitharaman

The Hindu  

Observing that the International Monetary Fund and World Bank have estimated India to be the fastest-growing major economy in 2023, Finance Minister Nirmala Sitharaman has said the Indian economy will stay on course and is likely to grow at 7% in 2022-23. Attending the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters here on Friday …

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 …

New India-born World Bank chief: Real change or rebranding?
1 year, 8 months ago

New India-born World Bank chief: Real change or rebranding?

Associated Press  

BENGALURU, India — The incoming president of the World Bank was born in India and forged his early business success there, a fact supporters say gives Ajay Banga valuable insight into the challenges faced by the developing countries the bank is supposed to help. U.S. Treasury Secretary Janet Yellen talked up Banga’s credentials this week on the sidelines of the …

Debt crisis key priority of India’s G20 presidency, says FM in US
1 year, 8 months ago

Debt crisis key priority of India’s G20 presidency, says FM in US

Hindustan Times  

Washington: Reiterating that addressing the growing debt distress was a priority for India’s G20 presidency, Union finance minister Nirmala Sitharaman has emphasised debt transparency, information-sharing, clarity on the comparability of treatment, predictability and timeliness of restructuring process as key principles that should govern the process. Sitharaman made the remarks while co-chairing a meeting of the global sovereign debt roundtable along …

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 …

Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries
1 year, 8 months ago

Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries

The Hindu  

Ahead of the G20 Finance Ministers and Central Bank Governors meeting on April 12 and 13, Finance Minister Nirmala Sitharaman expressed hope that the group could come together to address the debt distress of middle-income countries. While there could be “one or two” issues on which consensus is not possible, the Finance Minister said India’s presidency “is a great opportunity …

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 …

World Bank lowers India's current fiscal year growth forecast to 6.3%
1 year, 8 months ago

World Bank lowers India's current fiscal year growth forecast to 6.3%

Deccan Chronicle  

NEW DELHI: The World Bank on Tuesday lowered its forecast for India's economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6% as it expects higher borrowing costs to hurt consumption. "Rising borrowing costs and slower income growth will weigh on private consumption growth," the World Bank said in a report. The World Bank …

Hyd-G20 meeting on financial inclusion ends
1 year, 9 months ago

Hyd-G20 meeting on financial inclusion ends

Deccan Chronicle  

HYDERABAD: India has reiterated that as president of the G20 this year, it was committed to advancing financial inclusion globally, and bringing to the forefront voices of emerging economies. At the end of the four-day G20 Global Partnership for Financial Inclusion Meeting and Knowledge and Experience Exchange Programme for Global South here on Tuesday, India said the successful initiatives, challenges, …

India to bridge digital divide
1 year, 9 months ago

India to bridge digital divide

Deccan Chronicle  

HYDERABAD: India, heading the G20 this year, said that nations shifting to digital financial transactions should ensure inclusion of those who may not be fully ready to reap the benefits. Addressing the G20 working group on knowledge and experience sharing for emerging economies of the global south on financial inclusion which started in the city on Saturday, Harsh Vardhan Shringla, …

Does India have a rocky road ahead? - The Hindu
1 year, 9 months ago

Does India have a rocky road ahead? - The Hindu

The Hindu  

“The G20 has capacity to build consensus and deliver concrete results. As you meet in the land of Gandhi and the Buddha, I pray that you will draw inspiration from India’s civilizational ethos - to focus not on what divides us, but on what unites us,” Prime Minister Narendra Modi said in his video message at the G20 foreign ministers’ …

At G20 meeting, India’s Modi says ‘global governance has failed’
1 year, 9 months ago

At G20 meeting, India’s Modi says ‘global governance has failed’

Al Jazeera  

Indian leader calls on bloc to find common ground on global issues as he inaugurates the meeting set to be dominated by Ukraine war. Speaking at the opening of the Group of 20 foreign ministers’ meeting in New Delhi on Thursday, Modi said that countries should acknowledge that multilateralism is currently “in crisis”. French Foreign Minister Catherine Colonna also said …

G20 agrees on debt relief
1 year, 9 months ago

G20 agrees on debt relief

Deccan Chronicle  

NEW DELHI: Despite having some differences over the wording of the Russia-Ukraine war in the summary after the first G20 meeting of the Finance Ministers and Central Bank Governors under India’s presidency, Union finance minister Nirmala Sitharaman on Sunday said that the G20 nations have agreed on language to deal with the debt vulnerabilities of developing countries. Vulnerable nations are …

India's G20 Summit: What Global Governance Dilemma Means for Modi's Leadership
1 year, 9 months ago

India's G20 Summit: What Global Governance Dilemma Means for Modi's Leadership

The Quint  

If the G20 finance ministers can break the deadlock, it could unlock restructurings in Sri Lanka and Zambia—those worst-affected by sovereign debt defaults, helping them with immediate aid while also renewing hope for other nations seeking desperate debt relief measures. A larger concern that stems from the gridlock seen in the way G20 functions is evident from the fact how …

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