Sithraman meets IMF chief; discusses impact of geopolitical situation on global growth
PTI, Apr 19, 2022, 10:10 AM IST
Image source: Twitter / @FinMinIndia
Washington DC: Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including the impact of the geopolitical situation on global growth.
During the meeting held on the sidelines of the ongoing annual spring meetings of the International Monetary Fund (IMF) and the World Bank, the IMF chief highlighted India’s well-targeted policy mix that has helped the country’s economy remain resilient even with limited fiscal space.
She also appreciated India’s help to Sri Lanka in tackling its economic crises and assured that the IMF would continue to actively engage with the island nation.
”Discussing the recent geopolitical developments, FM Smt. @nsitharaman and Ms @KGeorgieva raised concerns about its impact on global economy and the challenges linked to the rising energy prices due to it,” the finance ministry said in a tweet.
With regard to Indian policy on economic revival, Sitharaman highlighted the government’s commitment to support economic growth through capital expenditure (CapEx) and underlined that the country’s accommodative fiscal stance accompanied by major structural reforms and strong monetary policies have helped in its post-pandemic recovery.
India is expected to record the highest growth rate among large economies of the world. As per the Economic Survey, the country may log 8-8.5 percent GDP growth in the current fiscal.
To achieve high growth, the government has raised CapEx by 35.4 percent for the financial year 2022-23 to Rs 7.5 lakh crore to continue the public investment-led recovery of the pandemic-hit economy. The CapEx last year was pegged at Rs 5.5 lakh crore.
Congratulating India on its successful vaccination programme to control the spread of COVID-19, Georgieva also appreciated New Delhi for extending relief to other vulnerable countries to fight the pandemic.
Sitharaman also met Sri Lankan finance minister Ali Sabry on the sidelines of IMF-WB Spring Meetings and discussed the current economic situation and its approach towards addressing the prevailing challenges in Sri Lanka.
The finance minister assured her Sri Lankan counterpart that as a close friend and good neighbour, India will try to extend all possible cooperation and assistance.
Sitharaman had a meeting with Indonesia finance minister Sri Mulyani Indrawati on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
”The two ministers discussed the current global situation and #G20 #Indonesian Presidency’s response to it, along with other #G20FMCBG agenda including #GlobalHealth, international financial architecture and #SustainableFinance,” the finance ministry said in a separate tweet.
Both the leaders highlighted the need for the collective attention of G20 on energy price volatility, inflation pressure and the impact of the geopolitical tensions on the global economy.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Stock markets stage strong rebound after 4 days of slump, Sensex rallies 599 pts
PHF Leasing Limited raises $10 Mn through a mix of equity and debt
CCPA asks FSSAI to probe claim of Nestle adding sugar to baby products
Markets tank in early trade as Middle East tensions flare-up
Tesla shares tumble below $150 per share, giving up all gains made over the past year
MUST WATCH
Latest Additions
Indian sentenced for five years for selling controlled substance on dark web
Congress backing polygamy by supporting personal laws: Ravi Shankar Prasad
Lok Sabha Elections 2024: Nitish Kumar has no principles, more dangerous than BJP: Congress chief Mallikarjun Kharge
Continuation of MCC restrictions after polling in Tamil Nadu violation of citizens’ rights: Chidambaram
Apparent Israeli attack on Iran’s territory intercepted, no damage to any installation: Envoy