FM Nirmala Sitharaman US Visit: IMF chief hails India for its well-targeted policy mix to keep economy resilient

International Monetary Fund Managing Director Kristalina Georgieva in her meeting with Finance Minister Nirmala Sitharaman on Monday highlighted India’s well-targeted policy mix that has helped the Indian economy remain resilient even with limited fiscal space. 

Union Finance Minister Nirmala Sitharaman is on official visit to the United States, during which she is scheduled to attend the Spring Meetings of the International Monetary Fund (IMF) & World Bank, the G20 Finance Ministers, and the Central Bank Governor Meeting (FMCBG) meetings. 

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During her conversation with the finance minister, the IMF MD stressed India’s commitment to support economic growth through capital expenditure. She also praised India for its nuclear policy. 

In a conversation, Sitharaman underlined that India’s accommodative fiscal stance accompanied by major structural reforms and strong monetary policies have helped in India’s post-pandemic economic recovery. 

Similarly, while discussing the recent geopolitical developments, Sitharaman and Georgieva raised concerns about rising energy prices and their impact on the global economy, and the challenges linked due to it. 

The IMF MD also appreciated India’s help to its neighbouring country Sri Lanka in tackling its economic crises and assured that the IMF would continue to actively engage with Sri Lanka.  

She also congratulated India on its successful vaccination programme to control the spread of COVID19 and appreciated India for extending COVID19 relief support to other vulnerable countries. 

The finance minister during her visit to the US is also scheduled to take part in bilateral meetings with several countries, including Indonesia, South Korea, Sri Lanka and South Africa. She will also hold one-on-one meetings with CEOs from the semiconductor, energy, and other sectors of priority for India.