INVC News
New Delhi ,
The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman, is all set to embark on an official visit to the USA, beginning April 10, 2023. The purpose of the visit is to attend the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), along with other associated meetings, such as G20 meetings and Investor/Bilateral meetings. These meetings are scheduled to take place from April 10 to April 16, 2023, in the WBG and IMF Headquarters in Washington DC. This is a significant event that will be attended by Finance Ministers and Central Bankers from across the world.
The Indian Finance Ministry delegation, led by the Union Minister for Finance & Corporate Affairs, will comprise officials from the Ministry of Finance and RBI. During her visit, the Union Finance Minister will be engaged in several key activities, including attending the Spring Meetings of IMF-WB, hosting the Second G20 Finance Ministers and Central Bank Governors meeting under India’s G20 Presidency, and participating in G20-related side events. In addition, Smt. Sitharaman will interact with Global Economists and Think-Tanks, engage in bilateral meetings with countries and international organizations, and participate in roundtables with global business leaders and investors. The Minister will also engage with the Indian Diaspora during her visit.
The 2nd G20 FMCBG meeting will be chaired jointly by the Finance Minister Smt. Sitharaman and Governor, Reserve Bank of India (RBI), Shri Shaktikanta Das on April 12-13, 2023. This meeting will involve the participation of around 350 delegates from G20 members, 13 invitee countries, and various international and regional organizations. The multilateral discussions in these meetings will focus on a broad spectrum of pressing global issues, including food & energy insecurity, managing global debt vulnerabilities, and accelerating progress on International Tax and Financial Sector issues.
The focus of the G20 FMCBG meeting will be to deliberate on issues such as addressing food & energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilizing finance for climate action, advancing financial inclusion, and accelerating progress on International Tax and Financial Sector issues. These discussions will take stock of the progress made on outcomes envisaged under India’s G20 Finance Track agenda.
The Union Finance Minister will also participate in a fireside chat at the Peterson Institute of International Economics (PIIE) on April 10, 2023. Additionally, the Minister will have bilateral engagements with her respective counterparts from G20 countries and Heads of other delegations, including major international organizations, to discuss issues and areas of mutual interest and cooperation under India’s G20 Presidency.
In summary, the upcoming official visit of the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, to the USA is an important event that will involve several key engagements. The Minister will participate in the Spring Meetings of IMF-WB, host the Second G20 Finance Ministers and Central Bank Governors meeting, interact with Global Economists and Think-Tanks, engage in bilateral meetings with countries and international organizations, and participate in roundtables with global business leaders and investors. The visit will provide an opportunity to address pressing global issues, including food & energy insecurity, managing global debt vulnerabilities, strengthening MDBs, and accelerating progress on International Tax and Financial Sector issues. ( INVC NEWS )
