FM Sitharaman, IMF chief Georgieva discuss significance of common crypto regulationbit2main
Plus, FM Sitharaman said the IMF should play a key role in this regard. India has always supported synchronised global coordination on the issue of regulation on crypto assets.
Georgieva met the FM in New Delhi and discussed a wide range of issues, including India’s upcoming G20 presidency and IMF’s support. The IMF MD mentioned that despite the global geopolitical uncertainty, India continues to be a bright spot in the global economy.
FM Sitharaman emphasised the need to ensure energy security for all. She said the importance of coordinated policy measures and multilateralism for mobilising adequate resources for climate action, mentioning that committed funds by the developed economies are yet to become available.
The FM said carbon pricing may not be a feasible policy tool for climate action. She further mentioned the importance of timely conclusion of the 16th general review of quotas (GRQ) in a manner that addresses inequity and imbalances in the global economy.
The IMF agreed with FM Sitharaman that for the Washington-based multilateral lender to remain relevant it is vital that a consensus on GRQ be reached to reflect the changed status of emerging market economies in the world order.