Crypto, global debt infocus at FM-Yellen meet

Bengaluru: Finance Minister Nirmala Sitharaman on Thursday held a bilateral meeting with US Treasury Secretary Janet Yellen and discussed issues relating to crypto assets, strengthening multilateral development banks and global debt vulnerabilities.

The deliberations were held on the sidelines of the first meeting of the G20 finance ministers and central bank governors here under the G20 India Presidency. The two leaders exchanged views on #G20 #FinanceTrack priorities under #G20India Presidency in 2023. The two leaders discussed their perspectives on strengthening #MDB, #GlobalDebt vulnerabilities, #CryptoAssets, and #health, besides the Just Energy Transition Partnership #JETP and possible takeaways for the two sides," the finance ministry tweeted. Both sides agreed that lessons learnt from the Covid-19 pandemic should not be lost sight of, and there is a need for enhancing preparedness for future pandemic-type shocks, the ministry said.

The two leaders exchanged views on G20 Finance Track priorities under G20 India Presidency in 2023. It said both sides agreed that lessons learnt from the Covid-19 pandemic should not be lost sight of and there is a need for enhancing preparedness for future pandemic type shocks. Earlier, Sitharaman met Italian Minister of Economy and Finance Giancarlo Giorgetti ahead of the meet. According to the Ministry of Finance, 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. While at the G20 in India, Yellen will join with allies in holding Russia accountable for its illegal invasion of Ukraine, and partner with countries to mitigate the spillover effects of the war, the US Department of the Treasury said in a statement earlier this week.