Global economy faces a confluence of challenges: Union Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said that the global economy today faces a confluence of challenges.

Union Finance Minister Nirmala Sitharaman addressed the closing session of the G20 Finance Ministers and Central Banks Governors (G20FMCBG) meeting in Washington D.C. (File Image)Press Information Bureau, Government of India

Union Finance Minister Nirmala Sitharaman said that the global economy today faces a confluence of challenges and it is everybody's collective responsibility to prevent the risks from aggravating.

While addressing the closing session of the G20 Finance Ministers and Central Banks Governors (G20FMCBG) meeting in Washington D.C., on Thursday, she said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility.

"Rebuilding trust in multilateralism is at the core of India's thinking. India's efforts will be to encourage conversations that recognize our inter-dependencies, our shared wisdom and our collective aspiration for a safe, peaceful and prosperous world."

Nirmala Sitharaman, Union Finance Minister of India

Union Finance Minister said that "G20 Finance Ministers have always come together in the harshest global situations, set aside their differences, and worked towards a common goal of prosperity for our people".

She urged the FMCBGs to continue working together with this sense of solidarity. (KB/IANS)

challenges