Union Finance Minister Nirmala Sitharaman will embark Tuesday on an official visit to Marrakech, Morocco, to attend the IMF-World Bank Annual Meetings 2023.
The Union Finance Minister will also participate in the fourth G20 Finance Ministers and Central Bank Governors meeting under the G20 Indian Presidency, besides investor and bilateral meetings with many countries and organisations
During the visit, bilateral and investor meetings with Indonesia, Morocco, Brazil, Switzerland, Germany and France, besides other associated meetings, are also scheduled to take place from October 11-15, 2023, in Marrakech, Morocco, Ministry of Finance said in a release Monday.
The Annual Meetings will be attended by Finance Ministers and Central Bankers from across the world. The Annual Meetings, which generally take place in October, are customarily held in Washington DC for two consecutive years and in another member country in the third year.
The Indian delegation for the Annual Meetings will be led by the Union Minister for Finance and Corporate Affairs and will comprise officials from the Ministry of Finance and the Reserve Bank of India.
Finance Minister Sitharaman and Shaktikanta Das, Governor, Reserve Bank of India (RBI), will co-chair the fourth G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. G20 FMCBG meeting will witness participation of 65 delegations from G20 countries, invitee countries, and international organisations in multilateral discussions centred around a broad spectrum of important global issues.
The fourth G20 FMCBG meeting will comprise of two sessions — Strengthening Multilateral Development Banks (MDBs) to address shared challenges of the 21st Century
The fourth G20 FMCBG meeting will comprise of two sessions — strengthening Multilateral Development Banks (MDBs) to address shared challenges of the 21st Century; and Global Economy and Crypto Assets Agenda.
During the meeting, the Volume 2 of the Report on strengthening MDBs by the Independent Expert Group (IEG) will also be released. Volume 1 was release during the 3rd FMCBG held in Gandhinagar, Gujarat.
On the sidelines of the fourth G20 FMCBG meeting, Principals from Indian G20 Presidency, International Monetary Fund, and the World Bank will co-chair Global Sovereign Debt Roundtable (GSDR) on October 12, 2023. The Roundtable will discuss the progress made on debt restructuring and explore ways and means to support work of G20 countries.
In a high-level event organised by the US Treasury, the Union Finance Minister will engage in a Roundtable Discussion on “IMF policy priorities and how the institution should support its membership”.
The Union Finance Minister will also participate in a discussion on the Partnership for “Resilient and Inclusive Supply-chain Enhancement” (RISE) – with the World Bank Group, organised by the G7 Japan Presidency.
On the margins of the IMF-WB Annual Meetings in Marrakech, Sitharaman will participate in a discussion on the macroeconomic outlook during a G7 Africa Ministerial Roundtable.
Sitharaman will also give the keynote address at a session on “MDBs evolution”, co-hosted by the German Federal Ministry for Economic Cooperation and Development and Center for Global Development (CGD).
In the course of her visit, the Union Finance Minister will also participate in a Roundtable on “Reviving Growth with Inclusivity: Galvanising Private Capital to support Governments and Multilateral Institutions”.
In another high-level event on the sidelines, the Union Finance Minister will engage in a conversation with the Atlantic Council on India’s economic prospects through 2024 and beyond.
