Hyderabad: Union Finance Minister Nirmala Sitharaman met with US Treasury Secretary Janet Yellen and Saudi Arabian Finance Minister Mohammed Aljadaan during which they discussed the global debt crisis and strengthening of the multilateral development banks, in Washington on Tuesday(local time).
It was a pleasure to welcome Minister @nsitharaman back to Treasury today. We continued our engagement on shared priorities like combatting climate change and evolving the multilateral development banks, and discussed India’s presidency of the G20, Yellen wrote in Twitter sharing an image from their meeting.
Taking the discussions ahead from their last meeting during the Economic Financial Dialogue EFD, in India, in Nov. '22, the two leaders discussed strengthening the India-U.S. economic and financial partnership and increasing engagements at bilateral and multilateral forums, a tweet from Finance ministry read.
Sitharaman appreciated the multi-faceted India-U.S. partnership and called for further cooperation in addressing global economic challenges, including Climate Change. FM highlighted the role of G20, QUAD and IPEF in fostering this partnership, the Ministry Tweeted.
Sitharaman also emphasised the importance of coordinated global action to address Debt Vulnerability in low and middle-income countries, besides the need for financial support to help developing economies achieve their climate goals, it added.
"H.E. Minister Nirmala Sitharaman and I discussed the #G20 agenda, and the progress made," Aljadaan said in a tweet after the meeting held on the sidelines of the annual Spring Meetings of the International Monetary Fund and the World Bank here. "Among other things, the two leaders discussed about the World Bank Evolution Roadmap and the Expert Group on Strengthening the Multilateral Development Banks constituted by the G20 India Presidency," the finance ministry said in a tweet.
They discussed global inflation issues, including spillover effects of measures taken, on the growth prospects of developing and low-income countries, besides the urgent need to tackle increasing global debt distress and improving the implementation of the Common Framework, the ministry said in its tweet.
