India's G20 presidency received strong support for all our priorities: FM
business-standard.comUnion Finance Minister Nirmala Sitharaman on Saturday said that India's G20 presidency has received strong support from all members on all key priorities.
Extending gratitude towards US Secretary Janet Yellen for putting her support, the Finance Minister also said that she is grateful for the USA and UK, who were very supportive of the global coordination framework, particularly on the crypto.
Addressing a press conference on the concluding day of the 1st Finance Ministers and Central Bank Governors meeting, Sitharaman said, "Saudi Arabia came to help with the resolution on fuel security. China and Saudi Arabia came forward on climate finance mobilization. Japan and the United Kingdom supported all priorities of India's G20 presidency."
Reserve Bank of India Governor Shaktikanta Das was also present on the occasion.
Noting the success of the Unified Payments Interface, RBI Governor said that the UPI attracted a lot of attention.
In fact, during the deliberations, quite a few finance ministers and the central bank governors did mention it as a success story, which can guide the future of interoperable payment systems between countries and for the cross-border transfer of money.
India also pressed for expeditious resolution of the debt vulnerabilities being faced by low and middle-income countries like Sri Lanka, Ghana, Zambia and Ethiopia.
The meeting of the 1st Finance Ministers and Central Bank Governors (FMCBG) under India's G20 presidency agreed to strengthen multilateral coordination by official bilateral and private creditors to address the deteriorating debt situation and facilitate coordinated debt treatment for debt-distressed countries.
Sitharaman said, "We are looking at a more efficient and quick resolution.
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