Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das are set to lead the Indian delegation at the IMF-World Bank Annual Meetings 2023 and the fourth G20 Finance Ministers & Central Bank Governors meeting. The meetings, which will take place in Marrakech, Morocco from October 11-15, will see India presiding over the G20.
The delegation will engage in investor and bilateral meetings with representatives from Indonesia, Morocco, Brazil, Switzerland, Germany, and France. The fourth G20 FMCBG meeting is expected to host 65 delegations from G20 countries and international organizations. Topics of discussion will include the crypto assets agenda, strengthening Multilateral Development Banks (MDBs), and the global economy. A Global Sovereign Debt Roundtable (GSDR) is also scheduled to discuss progress on debt restructuring and ways to support the work of G20 countries.
In a parallel development today, Rueben Lifuka, vice chair of Transparency International, called on the IMF and World Bank to intensify their fight against corruption during their meetings in Morocco. Lifuka underscored the need to curb illicit financial flows costing Africa US$98 billion annually. These flows are facilitated by professional enablers in major finance centers in advanced economies.
Lifuka advocates for global financial system reforms, technical assistance programs, country evaluations, beneficial ownership transparency measures, and strengthened financial intelligence units in African nations. The Civil Society Policy Forum, Tax Justice Network Africa, Stop the Bleeding campaign, and Tunisian Observatory of Economy are all hosting discussions on international financial reforms during these meetings. Transparency International is also urging further analysis of money laundering threats based on IMF's recent assessment in Northern Europe.
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