Sunday, December 10, 2023

IMF Director congratulates PM Modi on India’s strong economic recovery from COVID pandemic

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IMF Managing Director Kristalina Georgieva commended Prime Minister Narendra Modi for a terrific meeting on Thursday and congratulated India on its robust economic recovery from the COVID-19 epidemic in front of India’s impending G20 chairmanship.

Georgieva praised India’s robust economic recovery from the pandemic on Twitter, writing, “Thank you @PMOIndia @narendramodi for a great meeting. Congratulations on India’s remarkable advancements and its strong economic recovery from the pandemic, especially the incredible success in digitalization.” During the discussions with Prime Minister Modi, the IMF director praised the remarkable accomplishment of India’s digitization and gave the country his entire support in preserving macroeconomic and financial stability.

The IMF Chief tweeted, “As India assumes the G20 presidency, you can depend on @IMFNews full assistance to maintain macroeconomic & financial stability, expand cooperation on debt settlement & promote financial inclusion.”

Georgieva also hoped that India’s able leadership will help to progress IMF reforms and enhance a robust multilateral system.
IMF Managing Director Kristalina Georgieva also met with Union Finance Minister Nirmala Sitharaman to talk about the IMF’s assistance for India’s future G20 chairmanship.

As stated in a tweet from the Union Ministry of Finance, Sitharaman and the IMF Managing Director discussed “major negative risks to the global economy and the cross-border consequences owing to the geopolitical scenario and tighter financial conditions” during their discussion.

The two presidents agreed that low-income nations have been most negatively impacted by an increase in global inflation brought on by rising food and energy costs as well as international debt.

Sitharaman emphasised that committed money by the developed economies has not yet materialised and that coordinated policy actions and multilateralism are essential for mobilising sufficient financial resources for climate action.

India continues to be a bright spot in the global economy, according to the IMF Managing Director, who made this statement during the conference.

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