Nirmala Sitharaman attends first BRICS Finance Ministers, Central Bank Governors meeting

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday, November 9, participated in the first BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under Russia's Chairmanship. The agendas of the meeting involved discussions on the outcomes of the G20 Saudi Presidency in 2020, a digital platform to encourage infrastructure investments and expansion of the membership of the New Development Bank. As per the ministry release, the finance minister said the BRICS members have played an important role in ensuring that the concerns of emerging economies are properly addressed through various initiatives. 

Read: BRICS Forum: Om Birla Calls For Collective Fight Against Terrorism; Suggests Measures

Finance Minister addresses issues at BRICS meeting

The press release said, "The Finance Minister observed that the G20, of which all BRICS countries are members, has delivered some very significant initiatives this year including the G20 Action Plan in response to Covid-19, which has provided broad guidance to navigate a collective global response to the crisis. Additionally, the G20 Debt Service Suspension Initiative ensured immediate support to address the liquidity needs of low-income countries." 

It further added, "The BRICS Finance Ministers and Central Bank Governors also discussed expansion of the membership of the New Development Bank (NDB). The Finance Minister supported the expansion of the membership of NDB and emphasised the importance of regional balance. Sitharaman also shared her perspective on Russia's initiative to develop an integrated Digital Platform (Data Room)." 

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Earlier, Lok Sabha Speaker Om Birla had said that BRICS countries need to intensify their collective fight against terrorism which poses the biggest threat to humankind. Birla was virtually addressing the meeting of the 6th BRICS Parliamentary Forum and stated that the funding of all terrorist activities must be stopped immediately and the conditions that are conducive to the spread of terrorism and violent extremism need to be addressed and resolved at the earliest.

Chairman of the 6th BRICS Forum and Chairman of the State Duma of the Federal Assembly of Russia, Vyacheslav Volodin, and Presiding Officers of the Parliaments of Brazil, China, and South Africa also addressed the forum. The theme of the forum was - "BRICS partnership in the interest of global stability, general safety, and innovative growth: parliamentary dimension".

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(Image Credits: Twitter/@FinMinIndia)