She will host side activities and the second G20 Finance Ministers and Central Bank Governors (FMCBG) conference, which is being held under India’s G20 Presidency. In a statement released on Saturday, the finance ministry stated.
Nirmala Sitaraman, the finance minister, departs for the United States to host the G20 meeting and attend meetings of the IMF and World Bank
Nirmala Sitharaman, the finance minister, will go to the US to take part in the G20 summit as well as the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF).
She will host side activities and the second G20 Finance Ministers and Central Bank Governors (FMCBG) conference, which is being held under India’s G20 Presidency. In a statement released on Saturday, the finance ministry stated.
She will also attend a few investor sessions, bilateral discussions, and other related events during her visit to Washington, DC, which will take place from April 10 to April 16.
She will go to the plenaries of the World Bank Development Committee and the IMF Committee with representatives from the finance ministry.
It said that the minister will also participate in bilateral discussions with nations and international organisations, as well as with economists, business executives, think tanks, and investors from across the world.
Engagement with the Indian Diaspora is a planned component of the trip.
On April 12–13, 2023, Sitharaman and Shaktikanta Das, Governor of the Reserve Bank of India (RBI), will co-chair the second G20 FMCBG meeting.
A wide range of urgent global challenges will be the focus of multilateral discussions attended by some 350 representatives from G20 members, 13 invitee nations, and numerous international and regional organisations, it added.
Three sessions will be held during the second G20 FMCBG meeting: international taxation; sustainable finance; and the global economy and international financial architecture.
These sessions will be centred on deliberating on topics like addressing food and energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilising finance for climate action, advancing financial inclusion, and hastening progress on international tax and financial sector issues, according to the statement.
According to the statement, the conference will assess the status of the goals set forth in India’s G20 Finance Track agenda.
The third G20 FMCBG conference, which will take place in Gandhinagar, Gujarat, India, in July 2023, will progress activities towards development of G20 India Finance Track deliverables, it says.
The third G20 FMCBG conference, scheduled to take place in Gandhinagar, Gujarat, India, in July 2023, will enhance activities towards the development of G20 India Finance Track deliverables, according to the statement.
The Leaders Declaration is scheduled to be adopted at the New Delhi Summit in September 2023, and these sessions are anticipated to make informed Finance Track contributions, according to the statement.
The finance minister will meet privately on the fringes of the Spring Annual Meetings with her respective counterparts from the G20 and leaders of other delegations, including significant international organisations, to address concerns and areas of collaboration during India’s G20 Presidency.
She will attend a fireside discussion at the Peterson Institute of International Economics (PIIE) on April 10, 2023, as part of her tour.
On April 11, Sitharaman will meet with US Treasury Secretary Janet Yellen for a high-level discussion to discuss topics of shared interest.
It stated that on April 12, a gathering of the Global Sovereign Debt Roundtable will be co-chaired by India, the International Monetary Fund, and the World Bank to review the state of the world’s sovereign debt and methods to overcome current debt restructuring issues.
On April 14, a high-level conference on “Macro-financial implications of Crypto assets” will be conducted to analyse such implications and explore strategies for leveraging gains and containing dangers.
On April 15, Sitharaman will meet with the G20 Expert Group on Strengthening MDBs to address the need for an updated MDBs ecosystem for tackling global issues and funding sustainable development goals.
A high-level session on “Stacking up the advantages of Digital Public Infrastructure (DPI)” will also be attended by the finance minister on April 14 and is being hosted by the IMF.
The seminar’s goal, according to the announcement, is to examine takeaways from India and other nations on the transformative impact of DPI and methods to maximise its potential.
An event on “Enhancing the Economic Empowerment of Women as Entrepreneurs and Leaders” (April 13), a “LiFE (Lifestyle for Environment) event on Behavioral Change to Tackle Climate Change” (April 14), and the “Launch of Debt Restructuring Negotiation Process on Sri Lanka” (April 13) are a few of the additional side events that will be held in conjunction with the IMF-WB Spring Meetings.
