Sitharaman was speaking at the Development Committee Meeting at the Fund-Bank spring meeting in Washington DC.
The IMF has estimated that global growth will bottom out at 2.8 per cent in 2023 — a tad lower than earlier estimate — before rising modestly to 3 per cent next year.
In its Regional Economic Outlook for the Asia Pacific region on Thursday, the IMF said India’s growth momentum would begin to slow as softening domestic demand offsets strong external services demand.
Referring to the “Evolution of the World Bank Group – A Report to Governors”, released earlier this month, Sitharaman said the report provided a historic opportunity to think collectively on the evolution of the World Bank group.
During her intervention at the meeting, Sitharaman suggested that the global public goods should also be brought into the focus as the third goal.
Sitharaman strongly called for timely debt restructuring as the solution to the global debt crisis is closely intertwined with addressing the global poverty challenge. It adversely affects the most indebted countries as they also house the poorest people, she said.
Sitharaman discussed progress on the agenda of strengthening MDBs, including hearing from MDBs on implementation of recommendations of capital adequacy framework review panel and sought the views of G20 members on the way forward of the expert group on strengthening MDBs set up under India’s G20 presidency.
Speaking about the Global Sovereign Debt Roundtable, Sitharaman emphasised India’s commitment as part of its G20 presidency to all global efforts to address growing debt vulnerabilities and welcomed partnerships from IMF and World Bank to advance this agenda.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.