FM Nirmala Sitharaman discusses COVID vaccine equity, climate change with G20 counterparts

Union Finance Minister Nirmala Sitharaman attended the fourth G20 Finance Ministers and Central Bank Government Governors (FMCBG) meeting. Sitharaman at the in-person meeting of the Fourth G20 Finance Ministers and Central Bank Governors (FMCBG) meeting discussed developments in the global economy and support to vulnerable countries, according to ANI. In addition, international taxation, climate change and COVID-19 pandemic were also discussed. Sitharaman told her counterparts that ensuring vaccine for all is important for recovery. She called on the countries to fulfil commitments on climate finance. 

Sitharaman participates in 4th G20 Finance Ministers and Central Bank Governors (FMCBG) meeting

During the meeting, Union Finance Minister Nirmala Sitharaman expressed views about global economic recovery. She highlighted the importance of supporting, building resilience and boosting productivity and structural reforms. Sitharaman further mentioned that these "should be our policy goals", according to the news agency. The fourth G20 Finance Ministers and Central Bank Government Governors(FMCBG) meeting was held under the Italian G20 Presidency on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WGB), according to the news agency. 

Taking to Twitter, the Ministry of Finance informed the issues that the Union Finance Minister raised with her counterparts. Sitharaman appreciated the Organisation for Economic Co-operation & Development for supporting the two-pillar solution. She asserted that the agreement will help to address the tax challenges faced due to the digitalisation of the economy and dealing with Base Erosion and Profit Shifting issues. She expressed views on climate change and underscored that failure in fulfilling existing international commitments on climate finance and technology "weakens our collective efforts" against climate change. In addition, Sitharaman highlighted ensuring equitable vaccines for everyone, which is important for the international economic recovery, however, added that it faces a 'significant challenge', as per the news agency. 

During the meeting, the ministers and Governors acknowledged that the global recovery is continuing at a 'solid pace'. The ministers and governors noted that the global recovery was mainly due to the vaccine rollout the policy support, the news agency reported citing the G20 statement. The statement released by the G20 after the high-level meeting mentioned that during the meeting, members reiterated their keenness to sustaining the recovery and avoiding any premature withdrawal of support measures as the recovery remains divergent across countries, according to the news report. The members expressed their willingness to make use of all available tools for as long as required and to support the most affected, like women, youth, low skilled workers.

(With inputs from ANI)

(Image: Twitter/@FinMinIndia)