Africa entry, climate stance among G20 feats for India: IMF MD Kristalina Georgieva

economictimes.indiatimes.com:

The G20 Summit under India’s presidency succeeded in bringing Africa to the table, put the spotlight on climate action and focused on the reform of multilateral development banks, among other key achievements, International Monetary Fund (IMF) managing director Kristalina Georgieva said in an interview to ET. Edited excerpts:

What are the key takeaways from India’s G20 presidency?
India brought the G20 together, but it did more than that. It invited countries and international organisations; so, we can say the whole world came together. The very first important achievement is the African Union being accepted into G20, which gives a whole continent a voice. I think Prime Minister Modi and the rest of G20 did the right thing to welcome that voice.

Second, the Indian presidency brought up ambition on climate action. There was a much stronger sense of urgency to move. Third, on financing, the Indian presidency advanced reform of multilateral development banks and the World Bank, and brought the role of these institutions — as mobilisers of private finance — much more in focus.

Four, we have seen the India presidency rallying everybody, (which brought) pledges for lending special drawing rights through IMF to vulnerable middle- and low-income countries to fruition. It started with the Italian presidency, moved to the Indonesian presidency, and now, the pledge has materialised. That means more resources for developing countries.

Countries need to pursue growth oriented structural reforms for faster economic recovery: IMF MD at G20 Summit

Five, India genuinely mobilised, in a very thoughtful way, public and private sector creditors as well as borrowers to face the tremendous challenge a debt build-up presents.