Sitharaman pitches for strong quota-based and adequately resourced IMF
While attending the Restricted Breakfast Meeting of the IMF Board of Governors on the theme of “Dialogue on Policy Challenges” in Marrakech, Morocco, Finance Minister Nirmala Sitharaman expressed concern over the slowdown in global growth, even though she said that India continues to be the fastest growing large economy with growth at 7.8 percent during the first quarter of 2023-24.
She pointed out the escalating global debt vulnerabilities and 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.
She reiterated her commitment to a strong, quota-based, and adequately resourced IMF at the center of the global financial safety net, and climate action on the principles of common but differentiated responsibilities and respective capabilities.
Sitharaman emphasized that the coordinated response of the global community will foster multilateralism in the spirit of ‘Vasudhaiva Kutumbakam’ – One Earth, One Family, One Future.
[With Inputs from IANS]
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