Nirmala Sitharaman meets Chinese counterpart, discusses global debt vulnerabilities

Gandhinagar: Finance Minister Nirmala Sitharaman on Tuesday met her Chinese counterpart Liu Kun and discussed various deliverables under G20 India Presidency, including strengthening Multilateral Development Banks and global debt vulnerabilities.

Both ministers met on the sidelines of the ongoing 3rd G20 Finance Minister and Central Bank Governors (FMCBG) meeting and discussed the state of their economies, inflation, trade and recognised the importance of a good business environment for economic growth and development.

Minister Liu Kun appreciated India's leadership in G20 and stated that a lot of results have been achieved so far, the finance ministry said in a tweet.

"Key discussion items included deliverables under #G20India Presidency, including strengthening #MDBs, #GlobalDebt vulnerabilities and #GPFI. Minister Liu Kun also appreciated work of the G20 Independent Expert Group for Strengthening MDBs setup under #G20India Presidency," the tweet said.

China appreciated India’s leadership in G20 during high-level meet chaired between Union FM @nsitharaman and Chinese FM Liu Kun today.

Key discussion items included deliverables under #G20India Presidency, including strengthening #MDBs, #GlobalDebt vulnerabilities and #GPFI. pic.twitter.com/GAyVcAX2xg

— cliQ India (@cliQIndiaMedia) July 18, 2023

"Union Finance Minister Smt. @nsitharaman appreciated China's efforts as co-chair of the #SustainableFinance Working Group throughout under the #G20India Presidency," it said.

The two-day FMCBG meeting ends later in the day.