Finance Minister Nirmala Sitharaman and IMF Managing Director Kristalina Georgieva reviewed the global economic outlook and India’s growth trajectory. The discussions also focused on India’s structural transformation and the need for stronger economic assessment frameworks for emerging economies.

BulletsIn

• Finance Minister Nirmala Sitharaman met IMF Managing Director Kristalina Georgieva during the G20 Finance Ministers and Central Bank Governors meeting in Asheville.
• The meeting focused on the global economic outlook and India’s evolving growth trajectory amid significant structural changes in the domestic economy.
• Kristalina Georgieva appreciated India’s strong economic performance and highlighted the resilience, stability and strength developed within the Indian economy.
• Both sides discussed the structural transformation taking place in India and its implications for assessing the country’s economic growth.
• The discussions emphasized the need to appropriately incorporate structural changes into macroeconomic assessments and growth projections.
• Sitharaman highlighted India’s strong macroeconomic fundamentals during the discussions.
• The Finance Minister stressed the importance of evidence-based surveillance frameworks that can accurately reflect structural changes across emerging-market economies.
• India and the IMF also discussed capacity development initiatives aimed at strengthening institutional capabilities in emerging-market and developing economies.
• The initiatives include support for macroeconomic policymaking and statistical systems.
• The discussions highlighted the importance of improving analytical capabilities for better understanding the changing economic structures of emerging economies.
• Continued India-IMF engagement was emphasized to support sound economic policymaking and strengthen economic assessment frameworks.
• Both sides underlined the importance of stronger economic institutions and analytical systems in building global economic resilience.
• The meeting reflected India’s engagement with the IMF on issues related to economic growth, structural transformation and macroeconomic stability.