India remains concerned about global economic outlook, geopolitical environment, says Sitharaman

India remains concerned about the global economic outlook and geopolitical environment, despite this year's projected growth rate of over six percent for the country's economy, Union Finance Minister Nirmala Sitharaman said. She was speaking at the Global Sovereign Debt Roundtable alongside International Monetary Fund's (IMF) managing director Kristalina Georgieva on April 11 on the sidelines of the SpringMeetings 2023, in Washington, United States.

She also told global leaders during a meeting that the current headwinds and strained global supply chains have put a tremendous pressure on the global economy, marked by persistently high interest rates, northbound inflationary pressures and currency depreciation.

The recent turbulence in the banking sector in some advanced economies has further increased the challenges to global economic recovery and increased fiscal pressures, especially on EMDEs and LDCs, she said at the 107th meeting of the Development Committee on Wednesday during the annual meeting of the IMF and the World Bank.

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