G-20 News

G20 MFs support tax deal and pledge to continue recovery – The Indian Panorama


ASHINGTON (TIP): Financial leaders from major G20 economies have endorsed a global deal to overhaul corporate taxation and have pledged to maintain budget support for their economies while closely monitoring rising inflation.

G20 finance ministers and central bank governors also said in a statement released after a meeting in Washington that the International Monetary Fund (IMF) should create a new trust fund to channel a $ 650 billion issue of its reserves. to a wider range of vulnerable people. countries. Financial executives noted in their statement that the economic recovery “remains widely divergent between and within countries” and is vulnerable to new variants of Covid and an uneven pace of vaccinations. “We will continue to support the recovery, avoiding any premature withdrawal of support measures, while preserving financial stability and long-term fiscal sustainability, and protecting ourselves against downside risks and negative spillovers,” the officials said. G20 financial leaders in the press release.

Given mounting inflationary pressures from bottlenecks and supply chain shortages as economies struggle to normalize, leaders said central banks “are closely monitoring current price dynamics.”

“India offers a range of opportunities”

India offers an array of opportunities for investors and businesses, Finance Minister Nirmala Sitharaman told executives of major US companies as she met and briefed them on various flagship programs of the Indian government under Atma Nirbhar Bharat. Sitharaman, 62, is currently in the US capital and has met many prominent US CEOs based in India who have expressed interest in seizing investment opportunities in the country.