Finance Minister Nirmala Sitharaman has said that global policy responses are required for crypto-assets as its implications can impact both emerging and developed economies. She said this while briefing the press at the culmination of the second meeting of G20 Finance Ministers and Central Bank Governors under the G20 India Presidency in Washington DC. The meeting was held on 12th and 13 of this month on the margins of the 2023 Spring Meetings of the International Monetary Fund and the World Bank Group.
Speaking on the possible outcomes of the meeting, Nirmala Sitharaman said, Finance Ministers and Central Bank Governors have recognised the urgency to address debt vulnerabilities including strengthening multilateral coordination toward addressing increasing debt distress in low-income and vulnerable middle-income countries. On the international taxation issue, she said, participants stressed on the need to galvanise international efforts towards achieving a fair, sustainable and modern international taxation system. She said, G20 members appreciated India’s focus on the important agenda revolving around reforming and strengthening multilateral development banks to address global challenges of the 21st century.