India is set to chair the G-20 countries, a powerful intergovernmental forum made up of 19 countries and the European Union (EU)
IMF Managing Director Kristalina Georgieva – Twitter/ @KGeorgieva
Washington: As chair of the powerful grouping of G-20 countries next year, India has a unique role to play in overcoming global challenges by reaching out to different parts of the world using its long tradition of inclusiveness and of openness to collaboration with all countries, the head of the International Monetary Fund (IMF) said on Thursday.
IMF Managing Director Kristalina Georgieva made the remarks during a joint press conference with Nadia Calvio, chair of the IMF’s International Monetary and Financial Committee.
“They (India) have a unique role to play in overcoming challenges by reaching out to different parts of the world using India’s long tradition of inclusiveness and openness to collaboration with all countries,” a- she declared.
“There is one particular task for India on which we at the IMF are keen to see action, and that is the 16th general quota review. the world said it had to be done, and I have faith in India’s G-20 Presidency to help Nadia achieve that,” she said in response to a question.
India is expected to chair the G-20 countries, a powerful intergovernmental forum made up of 19 countries and the European Union (EU). The countries are Australia, Canada, Saudi Arabia, United States, India, Russia, South Africa, Turkey, Argentina, Brazil, Mexico, France, l Germany, Italy, UK, China, Indonesia, Japan and South Korea. Indonesia is the current chair of the G-20.
“It’s really by chance, but a good sequence that we have two major emerging market economies chairing the G-20, one after the other right now. Why? Because what the meeting demonstrated, it’s the concern of emerging markets that what has worked for them to lift people out of poverty, to energize the economy, and that’s direct and global cooperation, that can be questioned,” said Georgieva in response to a question.
“In this sense, I am confident that India will lead us to fight to use the G-20 as a platform for global cooperation,” she said.
Observing that multilateralism is more important than ever, Calvino said the G-20, the IMFC, of course the IMF and all other international forums and institutions play a key role in ensuring coordinated action to address global challenges.
“This was underscored by all members throughout the meeting, and it is indeed particularly important that India can lead the G-20 next year at this very important time to address common priorities like change. climate change, to also address support for the most vulnerable countries, etc.,” she said.