Tuesday, Finance Minister Nirmala Sitharaman met with her Chinese colleague Liu Kun to discuss a number of targets for the G20 India Presidency, including bolstering Multilateral Development Banks and addressing the vulnerabilities associated with global debt.
Both ministers addressed the status of their respective economies, inflation, trade, and the need of a positive business climate for economic growth and development during their conversation, which took place outside of the current 3rd G20 Finance Minister and Central Bank Governors (FMCBG) meeting.
In a tweet from the finance ministry, Minister Liu Kun expressed his appreciation for India’s G20 leadership and noted the significant progress that has been made so far.
“Deliverables during the #G20India Presidency, including improving #MDBs, #GlobalDebt vulnerabilities, and #GPFI, were key conversation topics. The G20 Independent Expert Group for Strengthening MDBs established under the #G20India Presidency was also welcomed by Minister Liu Kun, according to the tweet.
“Union Finance Minister Smt. @nsitharaman appreciated China’s efforts as co-chair of the #SustainableFinance Working Group throughout under the #G20India Presidency,” the statement said.
Later that day, the two-day FMCBG conference comes to a close.