FM Nirmala Sitharaman meets IMF chief, discusses impact of recent ‘geopolitical developments’ on global economy

Finance Minister Nirmala Sitharaman on Tuesday held converses with IMF boss Kristalina Georgieva during which they voiced worry over the effect of the new “international turns of events” on the worldwide economy and the provokes looked by nations because of rising energy costs.

Sitharaman, who showed up in Washington on Monday, met the International Monetary Fund Managing Director throughout the Spring Meetings of the IMF and the World Bank here.

“Examining the new international turns of events, FM Smt @nsitharaman and Ms @KGeorgieva raised worries about its effect on the worldwide economy and the difficulties connected to the rising energy costs because of it,” the Finance Ministry tweeted.

Since Russia attacked Ukraine late in February, wares costs have risen forcefully. Worldwide unrefined costs at one point contacted multi-decade highs, with benchmark rough fates above USD 100 for every barrel.

During the gathering, Georgieva featured India’s all around designated strategy blend that has assisted the Indian economy with staying strong even with a restricted financial space.

“During her discussion with Ms @KGeorgieva, FM Smt @nsitharaman focused on the Government of India’s obligation to supporting monetary development through #CapitalExpenditure,” the service tweeted.

“FM Smt @nsitharaman underlined that India’s accommodative financial position joined by major underlying changes and solid money related arrangements have helped in India’s post-pandemic #EconomicRecovery,” it said.

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Georgieva praised India on its fruitful inoculation program to control the spread of the Covid.

“She additionally valued India for stretching out #COVID19 alleviation backing to other weak nations,” the Finance Ministry tweeted.

Georgieva additionally valued India’s assistance to Sri Lanka in handling its monetary emergencies and guaranteed that the IMF would proceed to draw in with Sri Lanka effectively.

Sri Lanka is hit by its most awful financial emergency since autonomy in 1948 and is near the precarious edge of its first obligation default.

India as of late reported to expand a USD 1 billion credit extension to Sri Lanka as a feature of its monetary help to the country to manage the financial emergency following a past USD 500 billion credit extension in February to assist it with buying oil based goods. PTI

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