[ニューデリー １６日 ロイター] – At the G20 finance ministers and central bank governors meeting to be held from 22nd to 25th in Nandi Hills, a summer resort near Bengaluru in southern India, the debt problems of developing countries, crypto asset (virtual currency) regulations, and the world economy will be discussed. A slowdown is likely to be an issue.
With interest rates rising globally, the Indian chair wants to put debt relief for developing countries at the center of its agenda.
Reuters reported on Monday that India will offer a deep relief of debt from major creditor nations such as China to bail out debtor nations hit hard by the coronavirus pandemic and the war in Ukraine.
India also supports extending the G20 “common framework” to reduce debt in developing countries to middle-income countries. The expansion of the framework is being pushed by the International Monetary Fund (IMF), the World Bank and the United States, but China is resisting. The European Union (EU) has also shown support.
The World Bank warned last December that the world’s poorest countries’ bilateral debt rose 35% year-on-year to $62 billion for the year, raising the risk of default. Debts to China account for two-thirds of this.
Another priority for India is building consensus on international rules for cryptocurrencies. The country’s central bank governor last year called cryptocurrencies a “major threat” to economic and financial stability, prompting some officials to call for a ban. India has a strong interest in foreign perspectives on this issue.
