IMF MD congratulates India on strong Economic recovery from Covid-19
10 Sep 2022 14:38:52
New Delhi, Sept 10: Ahead of India's upcoming G20 presidency, International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday thanked Prime Minister Narendra Modi for a great meeting and congratulated India on's strong economic recovery from the COVID-19 pandemic.
Taking to Twitter, Georgieva wrote "Thank you @PMOIndia @narendramodi for a great meeting. Congratulations on India's strong economic recovery from the pandemic and its remarkable advances, especially the incredible success in digitalization," and congratulated India's robust economic recovery from the pandemic.
The IMF chief also applauded the incredible success of the digitalization of India during the talks with Prime Minister Modi and assured full support for India to protect macroeconomic and financial stability. "As India takes the helm of G20, you can count on @IMFNews full support to protect macroeconomic and financial stability, advance cooperation on debt resolution, and promote financial inclusion," the IMF Chief tweeted. Georgieva also counted on India's strong leadership to further strengthen a robust multilateral system and advance IMF reforms. The Managing Director of IMF, Kristalina Georgieva also met Union Finance Minister Nirmala Sitharaman to discuss India's upcoming G20 presidency and IMF's support for it. During the meeting Sitharaman and IMF Managing Director shared concerns on "key downside risks to the global economy and the cross-border effects due to the geopolitical situation and tighter financial conditions," the Union Ministry of Finance tweeted. The two leaders recognized that the effect of an increase in global inflation due to the rise in food and energy prices and international debt had impacted low-income countries the most.
Sitharaman reiterated the importance of coordinated policy measures and multilateralism for mobilizing adequate financial resources for climate action, emphasizing that committed funds by the developed economies are yet to become available. During the meeting, IMF Managing Director stated that despite the global uncertainty and headwinds, India continues to be a bright spot in the global economy.