Sri Lanka Crisis: IMF Chief Lauds India's Assistance To Sri Lanka As Sitharaman Assures All Possible Cooperation

Georgieva and Sitharaman discussed the recent geopolitical developments and shared concerns about its impact on the global economy and the challenges linked to the energy prices

Finance Minister Nirmala Sitharaman (ANI Image)

New Delhi: Lauding India's effort for supporting Sri Lanka in its worst economic crisis, International Monetary Fund (IMF) managing director Kristalina Georgieva on Monday assured finance minister Nirmala Sitharaman that the financial institution would continue to actively engage with the island nation.

Sitharaman on Monday assured help to Sri Lanka as the country faces its worst debt crisis. India will “try to extend all possible cooperation” to the neighbouring country, read a tweet by the ministry of finance.  

Union Finance Minister Smt. @nsitharaman met Sri Lanka Finance Minister Mr Ali Sabry on the sidelines of IMF-WB Spring Meetings, at Washington D.C., today, and discussed current economic situation and its approach towards addressing the prevailing challenges in Sri Lanka. (1/2) pic.twitter.com/SEzdWyoBj6

— Ministry of Finance (@FinMinIndia) April 18, 2022

Sitharaman met her Sri Lankan counterpart Ali Sabry. Georgieva appreciated India’s help in the crisis at the Spring Meetings of IMF-World Bank (WB) in Washington DC, according to the news agency ANI.

The Union Minister recently issued an alert over crptocurrency. Addressing a seminar during the ongoing spring meet of the International Monetary Fund (IMF) Sitharaman said the biggest risk of cryptocurrency could be money laundering and its use for financing terror.

Both leaders discussed the recent geopolitical developments and shared concerns about its impact on the global economy and the challenges linked to the rising energy prices.

The IMF chief also noted India’s support in Covid-19 relief support to other vulnerable countries, according to the ministry of finance. Georgieva also praised India's well-targeted policy mix that has helped the Indian economy remain resilient. In her discussion with Georgieva, Sitharaman mentioned India's commitment to supporting economic growth through Capital Expenditure.

The finance minister highlighted India's accommodative fiscal stance backed by major structural reforms and strong monetary policies aiding post-pandemic economic recovery, the ministry said.

Sitharaman is in Washington on an official visit to attend the Spring Meetings at the World Bank, the G20 Finance Ministers meeting and the Central Bank Governor Meeting (FMCBG).

Apart from her official engagements with the World Bank, IMF, G20, and Financial Action Task Force (FATF), Sitharaman on Monday attended an event at the Atlantic Council, a think tank based in Washington DC.