FM Sitharaman holds conversation with IMF MD Kristalina Georgieva

Union Finance Minister Nirmala Sitharaman held a conversation in a virtual mode with Managing Director of International Monetary Fund, IMF Kristalina Georgieva yesterday. In a tweet, the Ministry of Finance said that a proactive discussion on the macro international economic situation and the need for Multilateral action took place between them. Sitharaman and Georgieva spoke about the issue of global supply chains being affected, commodity price rising and the possible effects on the world economy.

Both sides also discussed the priorities for the IMF Spring Meetings in Washington DC and G20 Presidency. Ms Sitharaman said India looks forward to engaging with the IMF for its upcoming



G20 Presidency in 2023. They also discussed the issue of 16th GRQ (General Review of Quotas) scheduled to be completed by 2023 and the need to ensure that under-representation of Emerging Market and Developing Economies is addressed.

The Ministry said that they also suggested that the key question remains on the control of inflation while balancing needs for growth. They also expressed concern at diminishing focus and global supply of Covid19 vaccines. Union Finance Minister highlighted India’s achievement in successfully administering 1.79 billion doses while at the same time supplying 162.9 million doses to countries in need.