FM Nirmala Sitharaman on 6-day US visit for World Bank meet

New Delhi, October 10

Union Finance Minister Nirmala Sitharaman will be in the US from October 11 to 16 to attend crucial annual meetings of the International Monetary Fund (IMF) and the World Bank, which take place against the prospects of a slowdown in global growth to a mere one per cent.

To attend G20 meeting as well

• Nirmala Sitharaman will attend the meetings of the G20 Finance Ministers and Central Bank Governors
• Will separately meet US Treasury Secretary Janet Yellen and World Bank President David Malpass

The IMF MD, Kristalina Georgieva, had last week warned of a darker global outlook terming the current economic environment a “period of historic fragility”. The World Bank had last week cut the growth estimate for India by 100 basis points due to a worsening external environment.

Sitharaman will also attend the meetings of the G20 Finance Ministers and Central Bank Governors, besides having an interaction with business leaders and investors.

During her six-day visit, the minister would separately meet US Treasury Secretary Janet Yellen and World Bank President David Malpass to discuss issues of mutual interest.

Bilateral meetings with several countries, including Japan, South Korea, Saudi Arabia, Australia, Bhutan, New Zealand, Egypt, Germany, Mauritius, the UAE, Iran and the Netherlands, are also part of the minister’s itinerary, said official sources.

She is also scheduled to meet leaders and heads of Organisation for Economic Cooperation and Development (OECD), the European Commission and the UNDP as well as participate in a fireside chat on “India’s Economic Prospects and Role in the World Economy” at the Brookings Institution.