Washington. International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that the international community has great faith in India’s leadership in the G-20 grouping amid persistent economic slowdown and social tension in the world. “India, the chair of the G20 group, continues to be one of the countries performing far better than the global average,” Georgieva told reporters during a media roundtable on Thursday.
India formally took over the chairmanship of the G20 group on December 1. Georgieva said, “We greatly count on India’s leadership as the Chair of the G20. Because this is a critical time for the world to preserve its well-being by safeguarding an integrated global economy. I hope India will lead us Put together, it will be able to do a wider global service.” Appreciating Indian efforts towards digitization, he said, “It is working very well for India how it has carried out digitization accelerated by the COVID-19 pandemic.
Digitization has proven to be a point of strong comparative advantage for both public policy and private sector development.” He added that the combination of digital identity and digital public infrastructure has facilitated India to shift policy support to digital platforms. He Said, “This allows India to target very well those who deserve to be supported. Vaccination on priority basis and very effectively is also a vivid example of this. He said that the campaign of digitization has proved to be very helpful for the private sector as well.
“It has become a fertile ground for branded financing and very rapid expansion of enterprises. India intends to take it as a sector to G-20 to build comparative strength,” he said. The IMF chief said the G20’s priorities are to build on digitization on a public platform, build a public infrastructure that lowers the cost of digitization, and identify ways to use it as a source of growth and jobs.
He said that India has made some painstaking reforms which it is now reaping the benefits of. Along with this, he said that in today’s era, India is more concerned about the happenings in the rest of the world than domestic factors. “India is certainly affected by events in Asia. Its neighbors Sri Lanka and Pakistan remain unstable. China slowing down so dramatically is affecting the whole of Asia,” Georgieva said.
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