IMF Commends India’s Strong Economic Performance and Leadership in Digitalization

The International Monetary Fund (IMF) has commended India’s impressive economic performance amidst challenging global circumstances and its leadership in the digitalization of its economy. On a virtual conversation between Finance Minister Nirmala Sitharaman and IMF Managing Director, Kristalina Georgieva, the two leaders discussed the upcoming G20 Finance Ministers and Central Bank Governors meeting, which is slated to take place later this month in Bengaluru.

IMF Managing Director, Kristalina Georgieva, expressed her appreciation for India’s contribution of 50 million dollars towards the South Asia Regional Training and Technical Assistance Center in Delhi, in partnership with the IMF. She stated that this would strengthen India and the IMF’s role in capacity building in the South Asian region.

During their discussion, the leaders acknowledged the significance of giving a voice to the most vulnerable and underrepresented communities through the leadership of G20 nations. Finance Minister Nirmala Sitharaman emphasized the importance of ensuring food and energy security for all, and requested the IMF’s support in the form of technical analysis to develop evidence-based policy guidance. Debt discussions were identified as a crucial aspect of the G20 Finance Track, and India expressed its support for the ongoing efforts to implement the Common Framework in an orderly and timely manner.

Additionally, the Finance Minister and Kristalina Georgieva discussed the role of the IMF and other international organizations in developing a coordinated global approach towards the regulation of crypto assets. Minister Sitharaman assured that India will continue to play its leadership role during the Presidency to strengthen multilateralism and global governance for a peaceful, sustainable, and prosperous world.

Finally, both leaders expressed their solidarity with those affected by the disasters in Turkey and Syria. Minister Sitharaman informed Kristalina Georgieva of India’s immediate support extended by Prime Minister Narendra Modi, including the deployment of NDRF and medical teams under Operation Dost.

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