G20 SUMMIT INDIA: G20 under India’s presidency, can make concrete progress on three key areas viz., Debt relief, cryptocurrency regulations and climate finance, International Monetary Fund’s (IMF) First Deputy Managing Director Gita Gopinath said.
Gita Gopinath, who is in India to participate in deliberations held as part of G-20, detailed the three significant areas in a video posted on Twitter.
"A substantial percentage of our low-income nations are struggling with their debt. Although the G-20 common framework is available to assist with debt resolution, she said we must unquestionably strengthen the process and achieve far more prompt resolution.
She clarified the need for internationally accepted norms of rules by citing the most recent crypto collapse.
She said that making progress in that direction and achieving that goal in 2023 would be a tangible result.
Regarding climate finance, Ms. Gopinath said that "poor countries will need significantly larger financing to enable them to adapt to climate change and contribute to climate mitigation. And that's a third area where real advancement is possible.
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