Nirmala Sitharaman Calls For 'Concerted Action' Against Slowdown At IMF

Finance Minister Nirmala Sitharaman gave a call for 'concerted action' to mitigate the disruption on account of synchronous slowdown and to invoke the spirit of multilateralism for global growth during the Development Committee meeting of IMF and World Bank in Washington, Finance Ministry said in a press release.

Ms Sitharaman said, "The increased trade integration, geopolitical uncertainties, and high accumulated debt levels necessitate strong global coordination and that we need not wait for the slowdown to become a crisis."

Raising concerns over the on-going trade wars and protectionism Ms Sitaharaman said, "Trade wars and protectionism have generated uncertainties that will ultimately impact flow of capital, goods and services."

Finance Minister Nirmala Sitharaman led the Indian delegation to the Annual Meetings Plenary session of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC on Friday.

The Finance Minister is currently on an official tour to Washington DC to attend the Annual Meetings of the IMF and the World Bank and other associated meetings. She is accompanied by secretary, department of economic affairs, and other officials from the department.