Nirmala Sitharaman calls for help for debt-ridden countries
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Mumbai: Finance Minister Nirmala Sitharaman on Friday called for a concerted global effort led by rich countries to help debt-ridden countries at a time when multilateralism remains the biggest challenge. Addressing a session of the G20 organized by the Finance Ministry and the Reserve Bank online, Sitharaman said, “We have never seen such huge challenges in recent years.” Sitharaman said India has ensured that geopolitical Let differences not affect international cooperation and this is the main concept of the G20 group and the summit.
He said that India’s G20 chairmanship has attached great importance to the management of global debt vulnerabilities that many countries are facing today. Now is the time for the international community to cooperate and find stronger ways to coordinate debt restructuring efforts for low-income and vulnerable middle-income countries facing debt stress. Calling for concerted efforts to ensure a better future for all, Sitharaman said that the agenda of the G20 is to create a better tomorrow for all.
The Finance Minister said that India has so far ensured that consensus is reached on all economic issues, especially in finding solutions to the debt problem that many middle-income countries are facing today. He said that apart from this, it is necessary to make continuous efforts to find solutions to the problems arising out of the challenges of multilateralism. The G20 has also set up an expert group to find a permanent solution.
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