Nirmala Sitharaman holds virtual meet with Spanish Vice President, discusses issues of IMF

She also chaired a meeting with the Heads of Multilateral Development Banks (MDB) and co-conveners of the G20 Independent Expert Group.

"Union Finance Minister Smt.@nsitharamaninteracted with Ms. @NadiaCalvino, Vice President of Spain and IMFC Chair, via virtual conference, from New Delhi, today. The two leaders discussed various issues pertaining to IMF @IMFNews and the upcoming visit to attend the IMF-WB #AnnualMeetings in #Marrakech, Morocco," the Ministry of Finance said on X (formerly Twitter).

In the run up to 4th G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Marrakech, Morocco, Union Finance Minister also chaired a meeting with the Heads of Multilateral Development Banks (MDB) and co-conveners of the G20 Independent Expert Group NK Singh, the Chairman of 15th Finance Commission of India and professor Charles W. Eliot

During the meeting, various issues were discussed on MDBs and the related reforms to better serve the needs of client countries.

During the Leaders Summit in New Delhi, G20 leaders had emphasised reforms to deliver better, bigger and more effective MDBs, the Ministry stated.

Under its key priority of strengthening MDBs to address global challenges of the 21st century, India's G20 Presidency had constituted the 'G20 Independent Expert Group on Strengthening MDBs'.

The Volume 2 of the report of this Expert Group will be released post the 4th G20 FMCBG meeting in Marrakech, Morocco on October 12-13.

World Bank President Ajay Banga, President, Asian Development Bank President Mastasugu Asakawa, Asian Infrastructure Investment Bank (AIIB) Vice President Danny Alexander, New Development Bank President Dilma Rouseff, European Investment Bank President Werner Hoyer and Council of Europe Development Bank Governor Mario Monticelli also participated in the virtual meeting, the Ministry added. (ANI)