G20Under the presidency of India, concrete progress can be made in three key areas — debt forgiveness, cryptocurrency regulation and climate finance, IMFfirst deputy MD Gita Gopinath speak.
Gopinath, who is in India to participate in discussions held as part of the G20, explained the three areas in a video on Twitter. “We have a large number of low-income countries that are heavily indebted. While we have a common G20 framework to help deal with debt, it is imperative that we improve the strength of this mechanism and get a much more timely solution,” she said.
Shedding light on the recent crypto crisis, she said that it is clear that internationally agreed regulatory standards have become necessary.
“Progress on that front to be able to get there by 2023 will be a concrete outcome,” she said. On climate finance, Gopinath said, “For developing countries to adapt to climate change, to contribute to climate mitigation, they will need much more financing. And that is the third area where concrete progress can be made. ”
Gopinath, who is in India to participate in discussions held as part of the G20, explained the three areas in a video on Twitter. “We have a large number of low-income countries that are heavily indebted. While we have a common G20 framework to help deal with debt, it is imperative that we improve the strength of this mechanism and get a much more timely solution,” she said.
Shedding light on the recent crypto crisis, she said that it is clear that internationally agreed regulatory standards have become necessary.
“Progress on that front to be able to get there by 2023 will be a concrete outcome,” she said. On climate finance, Gopinath said, “For developing countries to adapt to climate change, to contribute to climate mitigation, they will need much more financing. And that is the third area where concrete progress can be made. ”
