Highlights
- Union Finance Minister Nirmala Sitharaman and Brazilian Minister of Finance Mr. Fernando Haddad held a productive meeting on the sidelines of the G7FMCBG Meeting in Niigata, Japan.
- Mr. Fernando Haddad commended India’s successful organization of the G20 Presidency and its leadership in addressing critical global economic issues.
- The discussion between the two Ministers encompassed topics such as infrastructure development, strengthening multilateral development banks (MDBs), debt vulnerabilities, and digital public infrastructure (DPI).
- FM Smt. Nirmala Sitharaman expressed her support for Brazil’s upcoming G20 Presidency in 2024.
Meeting Between Union FM Nirmala Sitharaman and Brazilian FM Mr. Fernando Haddad
On the sidelines of the G7FMCBG Meeting in Niigata, Japan, Union Finance Minister Smt. Nirmala Sitharaman had a bilateral meeting with the Brazilian Minister of Finance, Mr. Fernando Haddad. The meeting served as an opportunity for both Ministers to engage in meaningful discussions on various economic issues of mutual interest.
Appreciation for India’s G20 Presidency and Global Economic Leadership
During the meeting, Mr. Fernando Haddad expressed his admiration for India’s successful organization of the G20 Presidency and its commendable efforts in piloting significant global economic matters. India’s leadership in addressing crucial economic challenges and fostering international cooperation was recognized and appreciated by the Brazilian Minister of Finance.
Discussions on Infrastructure, MDBs, Debt Vulnerabilities, and DPI
The two Ministers engaged in detailed discussions on several key topics. Infrastructure development emerged as a focal point, with both countries recognizing the significance of robust infrastructure networks for sustainable economic growth. They explored avenues for bilateral cooperation in this vital sector.
Strengthening multilateral development banks (MDBs) was another area of mutual interest. FM Smt. Nirmala Sitharaman and Mr. Fernando Haddad deliberated on strategies to enhance the effectiveness and responsiveness of MDBs in addressing the developmental needs of member countries.
Debt vulnerabilities and their implications were also deliberated during the meeting. The Ministers exchanged perspectives on managing debt burdens and ensuring sustainable debt management practices.
Digital Public Infrastructure (DPI) emerged as a crucial area for discussion, reflecting the growing importance of digitalization in the global economy. Both Ministers explored avenues for collaboration in leveraging DPI to enhance economic opportunities, improve service delivery, and promote financial inclusion.
Support Extended for Brazil’s Upcoming G20 Presidency
FM Nirmala Sitharaman extended her support for Brazil’s upcoming G20 Presidency in 2024. Recognizing the potential for fruitful collaboration between the two nations, she expressed India’s commitment to working closely with Brazil during its tenure as G20 President. The discussion paved the way for future cooperation and strengthened ties between India and Brazil in the realm of global economic governance.
