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Global Debt Dominates As G20 Finance Chiefs Meet

US Treasury Secretary Janet Yellen speaks during a joint statement with India as part of the G20 Finance Ministers, Central Bank Governors (FMCBG) and Finance & Central Bank Deputies (FCBD) meetings, at the Mahatma Mandir in Gandhinagar on July 17, 2023. (Photo by Punit PARANJPE / AFP)

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G20 finance ministers and central bank chiefs opened talks Monday on debt restructuring deals, multilateral bank reform and finance to tackle climate change, as they aim to bolster a sagging global economy.

Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of “the responsibility we have… to steer the global economy towards strong, sustainable, balanced and inclusive growth”.

Key on the two-day agenda will be “facilitating consensus to intractable issues associated with rising indebtedness”, Sitharaman said earlier on Monday, speaking to reporters alongside US Treasury Secretary Janet Yellen.

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