NEW DELHI: In a meeting with International Monetary Fund managing director Kristalina Georgieva on Thursday, India Finance Minister Nirmala Sitharaman urged the multilateral finance organisation to create a globally coordinated strategy for the regulation of crypto assets.

The G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, slated to take place in Bangalore later this month, was discussed during a virtual call between the Finance Minister and the International Monetary Fund (IMF) MD. The Finance Minister also praised the IMF for its assistance to the G20 Indian president on key G20 FinanceTrack work streams.

In a series of tweets, the Finance Ministry stated that Georgieva commended India on its robust economic performance in difficult circumstances around the world and its leadership in the economy's digitalization, particularly in the field of digital payments.

The ministry said in a tweet: "Both leaders expressed solidarity with those affected by the devastation in Turkey and Syria", FM said India's quick support offered by Prime Minister Shri @narendramodi through deployment of NDRF @NDRFHQ and medical teams under OperationDost." IMF MD praised India's USD 50 million commitment to SARTTAC, Delhi, an IMF and India cooperation. She said that this will make India and the IMF even more effective in their capacity-building efforts in the South Asia Region.

In another tweet, it was said that FM Smt. @nsitharaman told Ms. K Georgieva that India will continue to play its leadership role during the Presidency to strengthen multilateralism and GlobalGovernance for a peaceful, sustainable, and prosperous world for all.

Both leaders agreed during the video conference conversation that the G20 nations' leadership must provide voice to the most marginalised and vulnerable groups. Sitharaman emphasised the need of ensuring food and energy security for everyone and requested the IMF's assistance in developing evidence-based policy recommendations on the matter for the Indian Presidency in the form of a thorough technical study. 

The G20 FinanceTrack discussions will focus heavily on debt challenges, and India will continue to support the ongoing efforts for a prompt and orderly implementation of the Common Framework, she also told Georgieva. According to another tweet, both presidents also talked about strengthening the Global Financial Safety Net by timely completing the 16th General Review of Quota (GRQ) and tackling debt risks.

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