Bengaluru: Union finance minister Nirmala Sitharaman on Thursday met US Treasury Secretary Janet Yellen ahead of the first G20 Finance Minister and Central Bank Governors meeting to be held in Bengaluru, starting Friday.
The two leaders exchanged views on G20 FinanceTrack priorities under India's G20 presidency.
They also discussed their perspectives on strengthening multilateral development banks (MDBs), global debt vulnerabilities, crypto assets, and health, besides the just energy transition partnership (JETP) and possible takeaways for the two sides. "Both sides agreed that lessons learnt from the COVID19 pandemic should not be lost sight of and there is a need for enhancing preparedness for future pandemic type shocks," the Ministry of Finance tweeted. The second Finance and Central Bank Deputies Meeting under India's G20 Presidency is underway in Bengaluru. The meeting began on Wednesday.
Road to policy for crypto assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements are among the agenda to be discussed on Thursday. The deputies' meet will be followed by the first G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held between February 24 and 25 in the same city. The meeting will be jointly chaired by Sitharaman and RBI Governor Shaktikanta Das.
The meeting will be spread over three sessions, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable 'cities of tomorrow', leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains, an official release said earlier.
The sessions will also cover issues related to the global economy, global health, and international taxation, and discussions in the G20 finance ministers and central bank governors meeting are intended to provide a clear mandate for the various workstreams of the G20 Finance Track in 2023.