India finance minister and US Treasury's Yellen discuss debt, crypto

BENGALURU : Indian Finance Minister Nirmala Sitharaman and U.S. Treasury Secretary Janet Yellen discussed strengthening multilateral development banks, global debt vulnerabilities and crypto assets on the sidelines of the G20 finance chiefs meeting on Thursday, the finance ministry said.

Yellen is expected to brief reporters later in the day and take part in a meeting of Group of Seven (G7) nations on the sidelines of the G20 meet.

India is hosting the first major G20 event under its year-long presidency at the summer retreat of Nandi Hills near tech hub Bengaluru.

"The two leaders discussed their perspectives on strengthening MDB (multilateral development banks), global debt vulnerabilities, crypto assets besides the Just Energy Transition Partnership," New Delhi's finance ministry said in a tweet.

Under the partnership, the United States and its allies, as well as multilateral development banks and agencies, provide funding to developing economies to move away from coal production and consumption.