FM highlights rising debt vulnerabilities in developing countries at G20

Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on 'multilateral coordination' for managing the burden.

Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF and World Bank, can be strengthened to address shared global challenges of the 21st century, while maintaining a focus on Sustainable Development Goals (SDGs) and poverty eradication.

The discussions of the first session of G20 FMCBG meeting focused on issues relating to international financial architecture, sustainable finance and infrastructure.

"FM highlighted the rising #DebtVulnerbilities in many vulnerable countries and sought views of the #G20 members on #MultilateralCoordination stating that managing global debt vulnerabilities would be crucial for the world economy," the finance ...