Sitharaman pitches for strong, quota-based and adequately resourced IMF
1 year, 2 months ago

Sitharaman pitches for strong, quota-based and adequately resourced IMF

The Hindu  

Finance Minister Nirmala Sitharaman on Saturday made a case for a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net and climate action. Participating in a breakfast meeting of the IMF Board of Governors on the theme of 'Dialogue on Policy Challenges' in Marrakesh, Morocco, Ms. Sitharaman expressed concerns with regard to slowdown in global growth. With regard to escalating global debt vulnerabilities, she highlighted the importance of the Global Sovereign Debt Roundtable to foster cooperation on debt issues and reforms in IMF policy to engage with members in debt distress. @nsitharaman reiterated commitment to a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net, and climate action on the principles of common but differentiated responsibilities and respective capabilities," the finance ministry said in a post on X.

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History of this topic

Financial stability challenges need to be discussed, IMF MD echoes RBI governor
6 months, 2 weeks ago

Financial stability challenges need to be discussed, IMF MD echoes RBI governor

Hindustan Times  

Echoing the sentiment expressed by Reserve Bank of India Governor Shaktikanta Das, Kristalina Georgieva, Managing Director, International Monetary Fund, underscored the need to discuss the financial stability challenges in a separate discussion in Washington D.C. Kristalina Georgieva, managing director of the International Monetary Fund. She underscored the challenges posed to the financial sector due to the introduction of new technologies …

Raise domestic financing to fund climate action projects: IMF’s Georgieva
1 year ago

Raise domestic financing to fund climate action projects: IMF’s Georgieva

Live Mint  

New Delhi: Developing economies need to do more domestically to raise financing and deepen domestic capital markets to participate and invest in climate action, said International Monetary Fund managing director Kristalina Georgieva in an interview held during the climate summit in Dubai. As part of the plan, the IMF will start a new programme with the World Bank on tax, …

ECONOMIC PERSPECTIVES | How IMF and World Bank need a redesign, not just reform
1 year, 2 months ago

ECONOMIC PERSPECTIVES | How IMF and World Bank need a redesign, not just reform

The Hindu  

Published : Oct 19, 2023 11:00 IST - 6 MINS READ The 2023 Annual Meetings of the World Bank and the International Monetary Fund at Marrakech in Morocco were to be game changing. These included: the restructuring of IMF quotas, which decide voting heft, to reflect the changed economic strength of countries in an evolving world order; a substantial increase …

IMF and World Bank are urged to boost funding for African nations facing conflict and climate change
1 year, 2 months ago

IMF and World Bank are urged to boost funding for African nations facing conflict and climate change

Associated Press  

ABUJA, Nigeria — Many poor countries in Africa face the harshest effects of climate change: severe droughts, vicious heat and dry land, but also unpredictable rain and devastating flooding. During a panel in Marrakech this week, IMF economist Daniel Lee said the organization is “mainstreaming climate change in policy advice, capacity development and lending.” He did not detail the size …

U.S. Treasury Secretary Yellen says she will press for IMF, World Bank resources at G-20 summit
1 year, 3 months ago

U.S. Treasury Secretary Yellen says she will press for IMF, World Bank resources at G-20 summit

The Hindu  

U.S. Treasury Secretary Janet Yellen said on September 8 she will work at the G-20 summit in India to build support to increase lending resources for the International Monetary Fund and the World Bank to help member countries deal with multiple global challenges, including new IMF quota resources. Ms. Yellen said in prepared remarks at a news conference in New …

G20: On climate, debt and digital, Bank and Fund pledge to work together
1 year, 3 months ago

G20: On climate, debt and digital, Bank and Fund pledge to work together

Hindustan Times  

In the run-up to the G20 Leaders’ Summit in New Delhi this weekend, where the reform and strengthening of multilateral development banks is among the top agenda items, the International Monetary Fund and World Bank have warned that the world faces major challenges and shocks and pledged to work together to deliver on climate, debt and digitisation in a structured …

RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review
1 year, 4 months ago

RBI Governor Shaktikanta Das calls for expeditious completion of IMF quota review

The Hindu  

Reserve Bank Governor Shaktikanta Das on August 11 pitched for the "expeditious completion" of the 16th general review of the quotas at the International Monetary Fund, pointing out that the same can help the multilateral lender assist distressed countries in a better way. “This is more so since the IMF’s support is linked to the quota size of the member-countries, …

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 …

Nirmala Sitharaman flags need for common understanding of debt challenges
1 year, 9 months ago

Nirmala Sitharaman flags need for common understanding of debt challenges

Live Mint  

New Delhi: Finance minister Nirmala Sitharaman on Saturday flagged the need for a common global understanding of challenges related to sovereign debt as world leaders gathered in Bengaluru for a G20 meeting discussing debt sustainability. Nirmala Sitharaman co-chaired a roundtable on debt on the sidelines of the G20 meeting of finance ministers and central bank governors, along with IMF managing …

Debt load may pose threat to nations: PM
1 year, 9 months ago

Debt load may pose threat to nations: PM

Live Mint  

Prime Minister Narendra Modi cautioned on Friday that unsustainable debt levels posed a threat to the financial stability of nations and called upon G20 finance ministers and central bank governors to work towards restoring stability, confidence, and growth to the global economy. International Monetary Fund managing director Kristalina Georgieva said on Thursday that the IMF, World Bank and India’s G20 …

Crypto Regulation: Nirmala Sitharaman Urges IMF To Develop Globally Coordinated Approach
1 year, 10 months ago

Crypto Regulation: Nirmala Sitharaman Urges IMF To Develop Globally Coordinated Approach

ABP News  

Finance Minister Nirmala Sitharaman on Thursday held a discussion with IMF managing director Kristalina Georgieva and urged the multi-lateral funding agency to develop a globally coordinated approach to the regulation of crypto assets.The Finance Minister held a virtual conversation with the International Monetary Fund MD to discuss the upcoming G20 Finance Ministers and Central Bank Governors meeting, scheduled to be …

IMF Chief Gita Gopinath, FM Nirmala Sitharaman Meet, Discuss 'Challenging Times'
2 years, 8 months ago

IMF Chief Gita Gopinath, FM Nirmala Sitharaman Meet, Discuss 'Challenging Times'

News 18  

Finance Minister Nirmala Sitharaman met International Monetary Fund’s Deputy Managing Director Gita Gopinath on the sideline of the IMF- WB spring Meeting 2022 in Washington DC earlier this week. Posting pictures of the meeting on Twitter, Gopinath said that aspects of India’s important role in forging solutions on debt, climate and IMF quota review were discussed during the interaction with …

Finance Minister Nirmala Sitharaman has urged IMF to assist Sri Lanka: Govt
2 years, 8 months ago

Finance Minister Nirmala Sitharaman has urged IMF to assist Sri Lanka: Govt

The Hindu  

Finance Minister Nirmala Sitharaman has urged the International Monetary Fund to provide Sri Lanka with assistance, according to the government. Ms Sitharaman, “indicated that IMF should support and urgently provide financial assistance to Sri Lanka,” said a Finance Ministry readout of the meeting between the Minister and IMF Managing Director Krisalina Georgieva. “The Managing Director assured the Finance Minister that …

IMF says Sri Lanka needs to be on a sustainable debt path
2 years, 8 months ago

IMF says Sri Lanka needs to be on a sustainable debt path

Al Jazeera  

IMF says Sri Lanka’s debt is unsustainable and it needs to restore debt sustainability before it can get any funds. The International Monetary Fund said discussions with Sri Lanka on a potential IMF loan program are at an early stage and any deal would require “adequate assurances” that the island country’s debts can be put on a sustainable path. “An …

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy
2 years, 8 months ago

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy

Firstpost  

During the meeting, IMF Chief Kristalina Georgieva highlighted India’s well-targeted policy mix that has helped the Indian economy remain resilient even with a limited fiscal space Washington: Finance Minister Nirmala Sitharaman on Tuesday held talks with IMF chief Kristalina Georgieva during which they voiced concern over the impact of the recent “geopolitical developments” on the global economy and the challenges …

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 …

World Bank, IMF to Consider Climate Change in Debt Reduction Talks
3 years, 10 months ago

World Bank, IMF to Consider Climate Change in Debt Reduction Talks

News 18  

The World Bank is working with the International Monetary Fund on ways to factor climate change into the negotiations about reducing the debt burdens of some poor countries, World Bank President David Malpass told Reuters in a Friday interview. Malpass said the Bank and the IMF were studying how to twin two global problems – the need to reduce or …

IMF’s debt restructuring programme should help countries overcome fiscal stress: FM
4 years, 2 months ago

IMF’s debt restructuring programme should help countries overcome fiscal stress: FM

Live Mint  

Finance Minister Nirmala Sitharaman said the International Monetary Fund's debt restructuring programme should aim at helping the countries overcome the fiscal stress caused by the coronavirus pandemic. ".it would be important to take into consideration the circumstances and concerns of both creditors and debtors and that in the process of debt restructuring, care must be taken to not saddle the …

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