sitharaman: Need global framework on cryptocurrencies: FM Sitharaman

sitharaman: Need global framework on cryptocurrencies: FM Sitharaman


Finance minister Nirmala Sitharaman Thursday called for a global framework on cryptocurrencies while pitching for steps to tackle global debt vulnerabilities and strengthening multilateral development banks.

Sitharaman pushed for these during the bilateral meetings with her counterparts, including from the US, Japan, Italy and Spain.

The finance ministers and central bank governors of the G-20 countries, which is a grouping of developed and developing nations, are here to participate in the two-day meeting of G-20 beginning Friday. India took over the presidency of the G-20 in December.

New Delhi is pressing for ways to tackle the aggravated debt vulnerabilities facing the developing nations mainly on account of the continuing geopolitical tensions and the pandemic.

It is feared that if left unaddressed, the mounting debt vulnerabilities of developing nations could trigger global recession and push millions to extreme poverty. Sitharaman is scheduled to have 10 such meetings.

In her meeting with US treasury secretary Janet Yellen, the finance minister discussed issues relating to crypto assets, strengthening multilateral development banks and global debt vulnerabilities.

Sitharaman, while addressing the ministerial session at the Global South Summit last month, had said India will take up developmental issues of the Global South at the meetings of the G-20 countries emphasising that there should not be any first world or third world, but only one world having a common future.India has been raising the issue of reforms of the multilateral lending agencies, especially the International Monetary Fund (IMF) and the World Bank, to enable them to address the global challenges facing the world economy in the 21st century.



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *