FM Sitharaman, US Treasury's Yellen discuss debt, crypto assets
1 min read . Updated: 23 Feb 2023, 02:01 PM IST
Premium- The two leaders discussed strengthening multilateral development banks, global debt vulnerabilities and cryptocurrency assets on the sidelines of the G20 finance chiefs meeting
Union Finance Minister Nirmala Sitharaman on Thursday met US Treasury Secretary Janet Yellen ahead of the first G20 Finance Minister and Central Bank Governors meeting to be held in Bengaluru, starting tomorrow.
The two leaders discussed strengthening multilateral development banks, global debt vulnerabilities and cryptocurrency assets on the sidelines of the G20 finance chiefs meeting.
"The two leaders discussed their perspectives on strengthening MDB (multilateral development banks), global debt vulnerabilities, crypto assets besides the Just Energy Transition Partnership," the finance ministry said in a tweet.
"Both sides agreed that lessons learnt from the COVID19 pandemic should not be lost sight of and there is a need for enhancing preparedness for future pandemic type shocks," the tweet noted.
Road to policy for cryptocurrency assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements are among the agenda to be discussed today.
The US Treasury Secretary will likely brief reporters later today and take part in a meeting of Group of Seven (G7) nations on the sidelines of the G20 meet.
Earlier, FM Sitharaman met Italian Minister of Economy and Finance Giancarlo Giorgetti ahead of the meet.
According to the Finance Ministry, the Italian Finance Minister extended his full support for a successful G20 India Presidency in 2023.
"FM said that under the leadership of PM Shri @narendramodi, India hosted the Voice of the #GlobalSouthSummit & India would put forth perspectives of the #GlobalSouth. Mr. Giorgetti indicated that Italy would continue to be a bridge between Global North and the Global South," it said in a tweet.
India is hosting the first major G20 event under its year-long presidency at the summer retreat of Nandi Hills near tech hub Bengaluru.
Under the partnership, the US and its allies, as well as multilateral development banks and agencies, provide funding to developing economies to move away from coal production and consumption.
With agency inputs