FM meets Saudi counterpart; global debt crisis, G20 agenda discussed

WASHINGTON: Union Finance Minister Nirmala Sitharaman on Tuesday had a meeting with her counterpart from Saudi Arabia Mohammed Aljadaan during which they discussed the global debt crisis and strengthening of the multilateral development banks, an Indian initiative under its G-20 presidency.

''H.E. Minister Nirmala Sitharaman and I discussed the #G20 agenda, and the progress made,'' Aljadaan said in a tweet after the meeting held on the sidelines of the annual Spring Meetings of the International Monetary Fund and the World Bank here.

''Among other things, the two leaders discussed about the World Bank Evolution Roadmap and the Expert Group on Strengthening the Multilateral Development Banks constituted by the G20 India Presidency,'' the finance ministry said in a tweet.

They discussed global inflation issues, including spillover effects of measures taken, on the growth prospects of developing and low-income countries, besides the urgent need to tackle increasing global debt distress and improving the implementation of the Common Framework, the ministry said in its tweet.