Key Points
Union Finance Minister Nirmala Sitharaman highlighted the contributions of the Global South to the foundations of multilateral development banks at the 1944 Bretton Woods conference and emphasized on embedding diverse voices in decision-making to ensure a truly inclusive and global development framework...
In her intervention at the session, Sitharaman urged the World Bank to promote a two-way exchange of innovations, drawing from the transformative experiences of the Global South in areas like digital inclusion and sustainable energy...
@nsitharaman commended @WorldBank's initiatives over the past year to optimise balance sheet measures to increase its financial capacity, however, given the growing global economic challenges and the pressing need of emerging economies to finance their developmental needs, both new and concessional resources, will be essential..
"Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman today participated in the IMFC Plenary session on 'MD's Global Policy Agenda' at the International Monetary Fund (IMF) during the Annual Meetings 2024 in Washington, DC..
The Union Finance Minister said that in 2024 the global economy has shown remarkable resilience; while output is nearing its potential in some major economies, headline inflation has generally moderated and moved closer to the central banks' targets," Ministry of Finance posted on X.. "Still, FM said that there are several downside risks, including growing geo-political tensions and medium-term global growth prospects, are a concern due to their continued weakness. Against this overall global macroeconomic backdrop, the Union Finance Minister said that the MD's Global Policy Agenda has rightly prioritised securing a soft landing and breaking from the low growth-high debt path..
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