Finance Minister Sitharaman to host breakfast for G20 counterparts

Nirmala Sitharaman will host a breakfast today for her counterparts from G-20 countries on the sidelines of the annual meeting of the International Monetary Fund and the World Bank

Union Finance Minister Nirmala Sitharaman will here on Thursday host a breakfast for her counterparts from G-20 countries on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.

Founded in 1999, G-20 is a grouping of 19 major world economies along with the European Union.

India will assume the annual presidency of G-20 countries in December this year. Indonesia is currently heading the G-20 presidency.

US Treasury Secretary Janet Yellen along with finance ministers of other G-20 countries have confirmed to attend the breakfast meeting being hosted by Sitharaman at the headquarters of the International Monetary Fund here.

Sitharaman with this meeting intends to set the pace and scope for India's presidency for the next year and also establish a personal relationship with all of her counterparts from the G-20 countries.

At a time when the world is facing recession and there is large-scale inflation, the role that G-20 has in steering the global economy has gained significance.