India navigating a complex G20 maze on road to summit

livemint.com:

Nirmala Sitharaman has emphasized that the focus of the Indian G20 presidency’s finance track was to strengthen multilateral development banks (MDBs) to address the mounting debt challenges faced by developing economies. The G20 under Indian presidency is also working on solutions that can constructively contribute to the efforts that MDBs are undertaking.

The G20 leaders will not only discuss restructuring existing debt and providing sustainable finance, but also how the international community can contribute to releasing funds for vulnerable countries and protect their populations from economic hardships. Development issues will be revolving around sustainability, considering the emphasis of reaching net-zero targets within the stipulated time.

Under the Indian presidency, the G20 finance track has outlined its priorities, including strengthening of the international finance architecture, financing global public goods, managing global debt and vulnerabilities, addressing macroeconomic impact of food and energy security, and financing sustainable and resilient cities for the future. Moreover, the Sherpa track’s focus revolves around socioeconomic issues, comprising agriculture, anti-corruption, climate action, the digital economy, education, employment, energy, environment, health, tourism, trade and investment.

Throughout India’s presidency, the 13 ministerial meetings that have taken place have led to successful outcomes. For instance, at the development ministers meet , the G20 adopted an action plan aimed at expediting progress on the Sustainable Development Goals and promoting lifestyles for sustainable development.