IMF Chief Kristalina Georgieva says all G20 members embraced India’s G20 presidency theme of “One Earth, One Family, One Future”
In a statement on the final day of the G20 summit in New Delhi, IMF Chief Kristalina Georgieva said that all the members attending the summit had endorsed India’s presidency theme of “One Earth, One Family, One Future.”
Georgieva said that the theme was “a powerful reminder of our common humanity and our shared responsibility to protect our planet.” She added that the G20 members had agreed to work together to address the challenges of climate change, food security, and other global issues.
She also said that the leaders had underscored the need to pursue sound policies for financial stability and growth-oriented structural reforms.
The G20 is an international forum of finance ministers and central bank governors from the world’s 20 largest economies. It is considered to be the premier forum for international economic cooperation.
India’s G20 presidency was marked by a focus on sustainable development and climate action. The country hosted a number of events and initiatives on these issues, including the launch of the G20 Sustainable Development Goals Action Plan and the G20 Leaders’ Declaration on Climate Change and Energy Transition.
The G20 summit in New Delhi was seen as a success, with the members agreeing to work together to address the challenges facing the global economy. The summit also saw the induction of the African Union as a permanent member of the G20.
Georgieva specifically mentioned the New Delhi G20 Leaders Declaration, which she said “sets out a clear commitment to joint action on climate change, financial stability, and other global challenges.”
She also called on G20 members to “lead by example” in delivering on the promises of USD 100 billion per year for climate finance, supported by strengthening Multilateral Development Banks(MDBs).
“The G20 is the premier forum for international economic cooperation, and I am confident that the leaders’ commitment to joint action will help to build a more stable and prosperous future for all,” Georgieva said.
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The IMF has secured over USD 40 billion to support vulnerable countries through its Resilience and Sustainability Trust (RST) to build climate resilience. This is a major step forward in helping countries adapt to the impacts of climate change and build a more sustainable future.
In addition to external financing, countries also need to mobilize domestic resources to finance and manage the green transition. This can be done through tax reforms, effective and efficient public spending, strong fiscal institutions, and deep local debt markets.
By taking these steps, countries can build a more resilient and sustainable future for all.Georgieva appreciated India’s G20 presidency, saying it is a powerful reminder that when the international community comes together to solve global problems, much can be achieved. She underlined the need to further strengthen the bonds of international cooperation to create a more prosperous and resilient global economy for all.
