India is currently holding the presidency of the Group of 20 (G2) nations and will host the G20 summit in 2023. With the forum members meeting to discuss matters related to financial outlook, climate change and more, the summit is a platform for policymakers from various countries to interact with each other.
It is at one such event of the G20 that Gita Gopinath, the Indian-American economist currently serving as the First Deputy Managing Director of the International Monetary Fund, met with Finance Minister Nirmala Sitharaman.
Gopinath wrote “lots of good discussions” while posting the photograph on Twitter.
“It was really nice to catch up with Finance Minister Nirmala Sitharaman at the G20 FMCBG meetings in Bengaluru. Lots of good discussions,” Gopinath said.
India is currently hosting the G20 FMCBG or the G20 Finance Ministers and Central Bank Governors meeting in Bengaluru. This is the first FMCBG meeting under India’s presidency of G20 and is being held between February 22 and 25. A total of 72 delegates from the 19 member countries, the European Union, and various international organisations have been invited to the event. The G20 Finance and Central Bank Deputies Meetings (FCBD), the second one under India’s G20 presidency, is also being held at the same time.
The FMCBG meeting is being jointly chaired by Sitharaman and Reserve Bank of India Governor Shaktikanta Das. Spread over three sessions, there will be discussions on various topics to help set the agenda for the G20 Finance Track for 2023.
Addressing the delegates at one of the sessions, Prime Minister Narendra Modi said that it is up to the FMCBG delegates to ensure that people have confidence in the growth and stability of the global economy.
“It is now up to you — the custodians of the leading economies and monetary systems of the world to bring back stability, confidence and growth to the global economy. It is not an easy task," PM Modi said.
The topics of discussion include matters such as“strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains.
The sessions will also cover issues related to the global economy, health, and taxation, according to a statement by the government. The event will have sideline discussions on topics like the use of national payment systems for cross-border payments, crypto assets, digital public infrastructure and more.
