FM Sitharaman holds virtual meeting with IMF chief, discusses impact of rising commodity prices

Finance Minister Nirmala Sitharaman held a virtual meeting with International Monetary Fund (IMF) Director Kristalina Georgieva on Friday and discussed several issues, including the impact of rising commodity prices on the global economy.

They also discussed the 16th General Quota Review, which is scheduled to be completed by 2023, and the need to ensure that the under-representation of emerging markets and emerging economies is addressed.

“FM Smt. @nsitharaman and Ms. @KGeorgieva, both expressed concern over the declining focus and global supply of #Covid19 vaccines. FM highlighted India’s achievement by successfully delivering 1.79 billion doses while simultaneously delivering 162.9 million to deliver doses to countries in need,” the Treasury Department said in a series of tweets, addressing the issue of global supply chains being affected, rising commodity prices and potential impacts on the global economy, it added.

“FM Smt. @nsitharaman and Ms. @KGeorgieva suggested that the key question remains about controlling inflation while weighing the need for growth,” another tweet read. Both also discussed priorities for the IMF Spring Meetings in Washington DC and the G20 presidency. India looks forward to working with the IMF for its upcoming G20 presidency in 2023.