Home » Business » Finance Minister Smt. Nirmala Sitharaman attends the Plenary Meeting of the International Monetary and Financial Committee of the IMF
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman addressing the Plenary Meeting of the International Monetary and Financial Committee, through video conferencing, in New Delhi on October 15, 2020.
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman addressing the Plenary Meeting of the International Monetary and Financial Committee, through video conferencing, in New Delhi on October 15, 2020.

Finance Minister Smt. Nirmala Sitharaman attends the Plenary Meeting of the International Monetary and Financial Committee of the IMF

New Delhi:15/10/20: Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman today attended the Plenary Meeting of the International Monetary and Financial Committee (IMFC), the ministerial-level committee of the International Monetary Fund (IMF)through video-conference.

The discussions at the meeting were based on IMF Managing Director’s Global Policy Agenda titled “Catalyzing a Resilient Recovery”. The members of the IMFC updated the committee on the actions and measures taken by member countries to combat COVID-19 and its adverse impacts.

Smt. Sitharaman, in her intervention at the meeting, briefly outlined the measures under the AtmaNirbhar BharatPackage to foster a quick and more robust economic recovery in India. She mentioned that the V-shaped pattern of recovery is being seen in several high-frequency indicators including, including manufacturing PMI that reached the highest level in the last eight years in the month of September 2020, presenting a strong recovery prospect for the manufacturing sector. To stimulate consumer spending, measures worth $10 billion have been announced recently.

The Finance Minister also complimented IMF’s Managing Director Ms. Kristalina Georgieva and the IMF for providing wise counsel to the economies across the globe and felt that IMF’s assertion that a premature withdrawal of policy support could trigger liquidity shortfalls and insolvencies, is relevant.

Several low-income and developing countries are confronted with the challenge to protect and ensure livelihood for millions slipping below the poverty line. Smt. Sitharaman mentioned that recovery and rehabilitation efforts in these countries must not be allowed to be undermined in any manner.

The IMFC meets twice a year, once during the Fund-Bank Spring Meetings in April, and again during the Annual Meetings in October. The Committee discusses matters of common concern affecting the global economy and advises the IMF on the direction of its work. This year, due to the COVID-19 outbreak, both the Spring and the Annual meetings took place through video-conference.

About Ashok Palit

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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