G20 In India: Nirmala Sitharaman Making Effort For Betterment Of Debt Distressed Nations

Nirmala Sitharaman's active G20 participation has proven impactful for India's Presidency. She has been making conversation around the distress that low and middle-income countries have been facing in terms of piling debt.

While it is obvious that consensus cannot be obtained among the G20 nations on every issue, there is hope for attaining consensus and making a collective effort toward the betterment of debt-distressed nations.

The focus of the April G20 Finance Ministers and Central Bank Governors (FMCGB) meeting was the global debt vulnerabilities the nations face along with the impending food and energy crisis. To better the debt issue that low and middle-income nations like Sri Lanka and Pakistan suffer from, International Tax and Financial Sector issues and the development of Multilateral banks had been discussed.

With conjectures around global recession setting in, it is important to secure one's own position as a state first and then offer help to debt-distressed nations. This is because the security of India will be weak if its neighbouring countries remain financially weak. They can be exploited to gain some control over India.

Nirmala Sitharaman's Active G20 Participation

Debt-distressed nations like Pakistan and Sri Lanka have been banking on an IMF bailout. The development of women in these nations suffers when the development of the nation as a whole suffers.

Women do not find employment opportunities and the ones that do, do not earn enough to globally move towards gender parity.

Studies and research indicate that the maternal mortality rate is high in low-income nations like Afghanistan, Africa, Pakistan, etc. The nutrition of women suffers in these nations and that adversely impacts their health. The situation becomes dire for expecting mothers and even fatal in certain instances.

Nirmal Sitaraman steering the G20 conversation toward the development of such low-income nations is therefore beneficial for the development of the women and children of those nations.

She put forward that such countries require investment and collaborative participation from external nations.

Suggested Read: G20 Empower Goal: Women Agripreneurs Becoming Major Contributors To India’s Agri Business