Asheville, Sept 3:
Union Finance Minister Nirmala Sitharaman met International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Asheville, United States, on Tuesday, with discussions focusing on the global economic outlook, India’s evolving growth trajectory and structural changes in the Indian economy.
The meeting came as India continues to demonstrate strong economic performance, with the two leaders also discussing the need for international economic assessments to adequately capture the structural transformation taking place in India and other emerging markets.
According to the Ministry of Finance, Georgieva appreciated India’s strong economic performance and track record, while noting the resilience and strength that have been built into the Indian economy. The IMF chief also highlighted the importance of reflecting the changes underway in India in macroeconomic assessments and growth projections.
The discussions covered the broader global economic outlook and India’s growth prospects amid continuing shifts in the international economic environment. Sitharaman highlighted India’s strong macroeconomic fundamentals and stressed the need for robust, evidence-based surveillance frameworks that accurately capture structural shifts taking place across emerging markets and developing economies (EMDEs).
A key area of discussion was the changing economic structure of emerging economies and the manner in which international institutions assess their growth potential. India has been seeking greater recognition of the structural changes and resilience of its economy in global economic assessments, particularly as emerging markets play an increasingly important role in global growth.