Nirmala Sitharaman Urges G7 and G20 to Support Africa
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, called on G7 and G20 nations to enhance their support for African countries. She emphasized India’s commitment to Africa, focusing on infrastructure and healthcare. This was during the G7 African Ministerial Roundtable in Washington, D.C.
India’s Partnership with Africa
Sitharaman highlighted the strong partnership between India and Africa, guided by Prime Minister Narendra Modi’s principles aimed at supporting Africa’s growth. She stressed the need for affordable financing, structural reforms, and foreign investment to achieve Sustainable Development Goals (SDGs).
Meeting with IMF’s Gita Gopinath
Earlier, Sitharaman met with Gita Gopinath, First Deputy Managing Director of the International Monetary Fund. She congratulated Gopinath on the successful Annual Meetings 2024 and discussed India’s economic outlook. Gopinath noted India’s projected 7% growth, making it the fastest-growing major economy.
Doubts Revealed
Nirmala Sitharaman -: Nirmala Sitharaman is India’s Finance Minister. She is responsible for managing the country’s finances, including the budget and economic policies.
G7 -: G7 stands for Group of Seven, which is a group of seven wealthy countries: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. They meet to discuss and coordinate economic policies.
G20 -: G20 is a group of 20 major economies, including India, that come together to discuss global economic issues. It includes both developed and developing countries.
IMF -: IMF stands for International Monetary Fund. It is an organization that helps countries manage their economies by providing financial advice and loans.
Gita Gopinath -: Gita Gopinath is an Indian-American economist who works at the IMF. She is known for her expertise in international finance and economics.
SDGs -: SDGs are Sustainable Development Goals set by the United Nations. They are a collection of 17 global goals designed to achieve a better and more sustainable future for all by 2030.
Infrastructure -: Infrastructure refers to the basic physical systems of a country, like roads, bridges, and hospitals, which are necessary for its economy to function.
Economic outlook -: Economic outlook refers to the future predictions about how a country’s economy will perform, including growth rates and other economic indicators.