Sitharaman encourages World Bank Group to evolve into a bigger and better bank to address the new world challenges
Union Finance Minister Nirmala Sitharaman has expressed India’s concerns about the global economic outlook and geopolitical environment even though the country’s own growth rate is projected at over six per cent.
Speaking at the 107th meeting of the Development Committee, as part of the annual meeting of the International Monetary Fund (IMF) and the World Bank, in Washington on Wednesday (April 12), Sitharaman told global leaders that the current headwinds and strained global supply chains have put a tremendous pressure on the global economy, marked by persistently high interest rates, northbound inflationary pressures and currency depreciation.
‘People-centric approach to global challenges’
The recent turbulence in the banking sector in some…