IMF has to play key role for stability of global monetary system: Murmu

Top IMF official Kristalina Georgieva on Friday called on President Droupadi Murmu who said that the organisation has to play an important role in maintaining the stability of the global monetary system.

Welcoming the International Monetary Fund's Managing Director to Rashtrapati Bhavan, the President said the world is passing through the third year of the COVID pandemic, and its ravages have been allayed in part by significant assistance given to many low-income countries by the IMF and the World Bank.

According to a Rashtrapati Bhavan statement, Murmu said the IMF has to play an important role in maintaining the stability of the international monetary system.

The President said India is one of the fastest growing major economies of the world and India's start-up ecosystem ranks high in the world.

"The success of start-ups in our country, especially the growing number of Unicorns, is a shining example of our industrial progress. What is even more gratifying is that the development of our country is becoming more inclusive and regional disparities are also reducing.

The basic mantra of today's India is compassion - compassion for the downtrodden, compassion for the needy and compassion for the marginalized," Murmu was quoted as saying in the statement.

Speaking about the upcoming G-20 Summit in India in 2023, the President said that multilateral cooperation in the G-20 should be based on the principles of inclusion, flexibility, and diversity.

She expressed confidence that during India's presidency, the G-20 Forum will move forward with an aspiration to make efforts to further strengthen multilateralism and global governance, in the direction of building a peaceful, sustainable and prosperous world for all.