Sitharaman expresses concern over global economic slowdown, seeks reforms in IMF policy

New Delhi, Oct 14 (IANS) Finance Minister Nirmala Sitharaman on Saturday expressed concern over slowdown in global growth, even though she said that India continues to be the fastest growing large economy with growth at 7.8 per cent during the first quarter of 2023-24.

She pointed out at the escalating global debt vulnerabilities and the importance of Global Sovereign Debt Roundtable to foster cooperation on debt issues and reforms in IMF policy to engage with members in debt distress.

She said this while attending the Restricted Breakfast Meeting of the IMF Board of Governors on the theme of “Dialogue on Policy Challenges” in Marrakech, Morocco.

She reiterated commitment to a strong, quota-based and adequately resourced IMF at the centre of the global financial safety net, and climate action on the principles of common but differentiated responsibilities and respective capabilities.

Sitharaman emphasised that coordinated response of the global community will foster multilateralism in the spirit of ‘Vasudhaiva Kutumbakam’ - One Earth, One Family, One Future.