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IMF supports India’s G20 agenda for prosperous future, here’s what it says


The International Monetary Fund (IMF) ‘fully’ supports the G20 agenda of India which formally assumed its presidency on Thursday. A senior official from the international financial body was speaking to a group of reporters ahead of her trip to China and India next week, according to the news agency PTI.

Ceyla Pazarbasioglu, Director of the Strategy and Policy Review department at the IMF said, “India is putting together a collective agenda for a much more prosperous future. They (India) plan to use the ongoing (global) crises as an opportunity to seek consensus on issues that really require urgent attention.”

Apparently, Pazarbasioglu was referring to the food and energy crisis due to the ongoing Russia-Ukraine war that started in February this year.

“The IMF “fully supports” the G20 agenda of India,” she added, as quoted by PTI.

Citing the theme of India’s G20 presidency ‘One Earth, One Family, One Future’, the IMF official explained that India is prioritizing the need to set aside differences and work at the local level, the federal level, and the international level.

According to her, India played a crucial role in negotiating the G20 declaration in Bali, Indonesia.

“As you know, we haven’t been able to have a declaration or a communique in the past two ministerial meetings, they were chair summaries. I will not go into details on how many hours those took. But so this was a major achievement, which included very strong language, that most members condemned the war in Ukraine,” she said, PTI reported. 

She asserted that India has announced its set of priorities which are important for the global community. “There are continuing efforts, be it on the debt side, be it on the tax side, and other priorities,” Pazarbasioglu said.

The IMF top official also said India has been leading the way in digital public infrastructure which is important for good governance and current circumstances.

A successful outcome for the 16th General Quarter Review of the IMF is going to be particularly important for it.

Earlier on the day India assumed G20 Presidency, PM Modi in a blog post said some countries remain trapped in the “zero-sum mindset” fighting over territory or resources and weaponizing supplies of essential goods.

“As India assumes this important mantle, I ask myself — can the G20 go further still? Can we catalyse a fundamental mindset shift, to benefit humanity as a whole? I believe we can,” he said in the write-up to share his thoughts on the significant milestone for Indian diplomacy.

He also wrote about the greatest challenges of climate change, terrorism, and pandemics and staked claim to India’s democratic credentials over growing criticism of India’s “crackdowns” on civil liberties.


(With PTI inputs)

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