International Monetary Fund (IMF) chief Kristanlina Georgieva said that all the members attending the G20 Summit had embraced Indias Presidency of “One Earth, One Family, One Future”, on the final day of the G20 Summit.Georgieva praised the New Delhi G20 Leaders Declaration, saying that it reflected a solid consensus for collective action to address global challenges from all G20 countries and their representative leaders.Speaking of the African Union, she said, “I am also very pleased that the G20 welcomed the African Union as a permanent member”.Georgieva discussed the delayed and unequal global economic recovery and emphasized the importance of pursuing good financial stability policies and growth-oriented structural reforms.Georgieva stated during the G20 Leaders Summit that they must lead by example by fulfilling their commitments to provide USD 100 billion a year for climate finance with the backing of strengthened Multilateral Development Banks (MDBs).Calls for international cooperationFurthermore, she added, the Resilience and Sustainability Trust (RST) of the International Monetary Fund (IMF) has acquired more than USD 40 billion to support vulnerable nations in fostering climate resilience. Through tax changes, effective and efficient public spending, solid fiscal institutions, and robust local debt markets, she added, countries must also mobilize domestic resources to finance and manage the green transition.She emphasized the need to further strengthen the ties of international cooperation to create a more prosperous and resilient global economy for all, noting that Indias G20 presidency is a potent reminder of the great things that can be achieved when the international community works together to solve global problems.
