HomeWorld NewsFinance minister Nirmala Sitharaman to World Bank: Rescue countries facing debt stress

Finance minister Nirmala Sitharaman to World Bank: Rescue countries facing debt stress

  • April 24, 2022
  • Posted by: Bastion team
  • Category: World News
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At a meeting with World Bank Group President David Malpass Finance Minister Nirmala Sitharaman — who is in Washington, DC to attend IMF-WB Spring Meetings 2022 — on Friday underlined the need to rescue countries facing debt stress due to the uncertainty from Covid and geo-political developments.

“On account of the pandemic and the recent geo-political developments, there is a need for the World Bank to come to the rescue of countries facing debt stress. In particular, the World Bank needs to pay special attention to Sri Lanka…” Sitharaman said, as per a Finance Ministry statement.

Meanwhile, a global shortage of food grains in the aftermath of the Ukrainian war, countries like India which have the potential to address this by exporting agricultural products, in particular cereals, are facing difficulties from the World Trade Organization (WTO), Sitharaman said. To these concerns, WTO Director General Ngozi Okonjo-Iweala said the organisation is looking at it very positively and hopefully it would be sorted, Sitharaman told reporters.

Later, the Finance Minister also met Boeing Defense CEO Ted Colbert and discussed opportunities for investments and growth in maintenance, repair, and operations (MRO) and aircraft leasing in India. Colbert mentioned that Boeing is expanding its India operations and is committed to the vision of Aatmanirbhar…

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