Union Finance Minister Smt Nirmala Sitharaman is set to attend the Spring Annual Meetings of the IMF-World Bank and other significant events during her official visit to the USA, starting from April 10, 2023. The week-long visit will include G20 meetings, Investor and Bilateral meetings, and associated meetings at the WBG and IMF Headquarters in Washington DC.
Attending the 2023 Spring Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF)
The Indian Finance Ministry delegation, led by Union Finance Minister Smt. Nirmala Sitharaman, will comprise officials from the Ministry of Finance and RBI. The Spring Meetings will be attended by Finance Ministers and Central Bankers from across the world, focusing on various global economic issues and developments.
Key Engagements for the Union Finance Minister
Smt. Sitharaman’s key engagements during the visit will include:
i) Spring Meetings of IMF-WB;
ii) Hosting the Second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s G20 Presidency;
iii) Participation in World Bank Development Committee and IMF Committee Plenaries;
iv) Interaction with Global Economists and Think-Tanks;
v) Bilateral engagements with countries and international organisations;
vi) Interaction with global business leaders and investors in roundtables; and
vii) Engagement with Indian Diaspora.
Hosting the 2nd G20 FMCBG Meeting
On April 12-13, 2023, Finance Minister Smt Sitharaman and Governor, Reserve Bank of India (RBI), Shri Shaktikanta Das, will jointly chair the 2nd G20 FMCBG meeting. Approximately 350 delegates from G20 members, 13 invitee countries, and various international and regional organisations will engage in multilateral discussions on pressing global issues.
The meeting will comprise three sessions:
i) Global Economy and International Financial Architecture;
ii) Sustainable Finance, Financial Sector and Financial Inclusion; and
iii) International Taxation.
These sessions will focus on addressing food & energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilising finance for climate action, advancing financial inclusion, and accelerating progress on International Tax and Financial Sector issues.
Bilateral Engagements and Side Events
During her visit, Smt. Sitharaman will participate in various high-level meetings, seminars, and events, including a fireside chat at the Peterson Institute of International Economics (PIIE) and a meeting with US Treasury Secretary Ms Janet Yellen to discuss issues of mutual interest.
Other notable events include:
i) Global Sovereign Debt Roundtable co-chaired by India, International Monetary Fund, and the World Bank;
ii) High-level seminar on “Macro-financial implications of Crypto assets”;
iii) Meeting with the G20 Expert Group on strengthening MDBs;
iv) Seminar on ‘Stacking up the benefits of Digital Public Infrastructure (DPI)’ organised by the IMF
Smt Sitharaman will also attend side events on enhancing the economic empowerment of women, promoting behavioral change to tackle climate change, and the launch of the debt restructuring negotiation process on Sri Lanka.