Controlling inflation while balancing the need for growth is the key challenge for countries in the current global economic situation, Finance Minister Nirmala Sitharaman said in a virtual discussion with International Monetary Fund (IMF) managing director Kristalina Georgieva on Friday evening.
The Minister also discussed the issue of global supply chains being affected, rising commodity prices and the possible effects on the world economy, stressing the need for multilateral action in the evolving ‘macro international economic situation’, the Finance Ministry said in a statement.
Ms. Sitharaman and Ms. Georgieva both expressed concern at a ‘diminishing focus and global supply of COVID-19 vaccines. On the priorities for IMF’s upcoming Spring board meetings, the Finance Minister reiterated India’s call to ensure that ‘underrepresentation of emerging market and developing economies is addressed’.
