Finance Minister Nirmala Sitharaman attends Plenary Meeting IMF governing committee in Washington

16 October 2021 Current Affairs:On October 14, the International Monetary and Finance Committee (IMFC), which guides and sets the agenda for the International Monetary Fund (IMF), met in Washington, DC as part of the IMF and World Bank’s annual meetings. The committee, which consists of finance ministers and central bankers, was in attendance, including Finance Minister Nirmala Sitharaman.

Highlights:

♦In terms of the RST, the Finance Minister stated that India expects greater participation from stakeholders.

♦We expect more consultations and deeper involvement with key stakeholders going forward, which is critical to the initiative’s success, she added in her statement.

♦The Minister voiced concern about the differences in vaccine access between developed and developing countries. 

♦She also called for a greater understanding of the challenges that developing countries face in terms of climate finance and technology, which she addressed at the G20 on Wednesday.

♦The IMFC release — an agenda-setting document – stated that to enhance universal vaccination, strong international cooperation and quick action were required and that the IMF and, indirectly, Fund members would take initiatives to increase vaccine and essential medical product supplies.

 

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