India calls for collective responsibility for preventing risks from aggravating

WASHINGTON: Union finance minister Nirmala Sitharaman on Thursday called for collective responsibility to prevent the risks from aggravating.

Sitharaman said that India's efforts will be to encourage conversations that recognise our inter-dependencies, our shared wisdom, and our collective aspiration for a safe, peaceful and prosperous world.

Today's global economy faces a confluence of challenges and it is our collective responsibility to prevent the risks from aggravating, the finance minister said in her speech during the closing session of the G-20 finance ministers and central bank governors here being held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. India will head the annual rotating presidency of G-20 next year.

In her remarks, the finance minister said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility. Rebuilding trust in multilateralism is at the core of India's thinking, she told her G-20 colleagues.

Sitharaman said that G20 finance ministers have always come together in the harshest global situations, set aside their differences, and worked towards a common goal of prosperity for our people.

As such, she urged the finance ministers and central bank governors to continue working together with this sense of solidarity.